Cryptocurrency derivatives and copy trading platform Bitget on Monday announced the launch of its Bitget Web3 Fund, investing an initial $100 million in the fund to support the development of the next generation of cryptocurrency projects.
The fund said it will seek out VCs and projects globally but prioritize partners in Asia that have a clear roadmap and an experienced team, and those that offer innovative solutions to real-world problems.
Bitget stated it has received inquiries from VCs including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker and ABCDE Capital for potential partnerships.
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"We can see that Web3 space is evolving rapidly and many projects deserve the support to further advance such development and make Web3 a truly global phenomenon, as Web2 had once become," said Gracy Chen, managing director of Bitget.
"That is why the Bitget Web3 Fund will strive to seek out projects that have the most impact on this process."
Bitget's recent moves into the Web3 space include acquiring several Web3 applications and pledging support as a sleeve sponsor to Juventus, and as a general sponsor to the Juventus Women’s Team for the 2022-2023 season.
The company has also acquired the BitKeep wallet, which claims to serve as a gateway for 9.5 million users, to enhance the Web3 surfing experience for Bitget users.
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Photo via Pixabay.
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