Seychelles-based crypto exchange Bitget has launched a new $100M fund to invest in Web3-focused firms and projects. The fund will first concentrate on Web3 projects in Asia with experienced teams and a clear roadmap. More: The firm will also prioritize projects working on real-world problems. Foresight Ventures, ABCDE Capital, SevenX Ventures and DAO Maker, and Dragonfly Capital are all among the potential partners in the initiative. The Managing Director of Bitget, Gracy Chen, said the fund was established to continue the platform's ongoing efforts to accelerate the crypto and Web3 adoption worldwide. A Bitget spokesperson also stated that the initiative is self-funded thanks to the popular crypto exchange's current debt-free status with adequate cash flow. Zoom-Out: In 2022, Bitget launched a similar $200M fund to restore investor confidence amid the bear market, with a promise to protect the fund's value for three years. The company also recently acquired the BitKeep wallet for $30M.

 

Seychelles-based crypto exchange Bitget has launched a new $100M fund to invest in Web3-focused firms and projects.  The fund will first concentrate on Web3 projects in Asia with experienced teams and a clear roadmap.  The firm will also prioritize projects working on real-world problems. Foresight Ventures, ABCDE Capital, SevenX Ventures and DAO Maker, and Dragonfly Capital are all among the potential partners in the initiative. The Managing Director of Bitget, Gracy Chen, said the fund was established to continue the platform's ongoing efforts to accelerate the crypto and Web3 adoption worldwide.  A Bitget spokesperson also stated that the initiative is self-funded thanks to the popular crypto exchange's current debt-free status with adequate cash flow.  In 2022, Bitget launched a similar $200M fund to restore investor confidence amid the bear market, with a promise to protect the fund's value for three years. The company also recently acquired the BitKeep wallet for $30M.