Bitget, a leading crypto copy and derivatives trading platform, has launched a $100 million fund to support next-generation crypto projects in Asia.
The Bitget Web3 Fund was launched during the Hong Kong Blockchain Week. It will invest in Web3-compliant venture capital and exceptional Web3 projects.
Following the April 10 announcement, several venture capitalists have already inquired about potential partnerships with the fund, including ABCDE Capital, Foresight Ventures, SevenX Ventures, Dragonfly Capital, and DAO Maker.
According to a Bitget representative, the entity is reportedly self-funded, having invested $30 million in the BitKeep decentralized multi-chain wallet.
According to the CEO of the company, Grace Chen, the fund will seek VCs and projects around the world. Still, Asia-based partners with a clear roadmap, an experienced team and creative solutions to pressing issues will be given priority.
“Many projects deserve support to further advance such development and make Web3 a truly global phenomenon, as Web2 once was.”
Gracy Chen, CEO of Bitget
In addition, the company invests in innovative projects with full awareness and responsibility, knowing how crucial responsibility is when working with creative projects that require investment.
Bitget’s presence in the crypto industry
Bitget was established in 2018 and is the world’s leading cryptocurrency exchange offering futures and copy trading services.
The exchange is dedicated to offering a comprehensive trading solution to help users trade smarter. It currently serves more than 8 million users in more than 100 countries and regions. Bitget is also currently ranked as one of the top 5 futures trading platforms and one of the top 10 spot trading platforms.
Bitget has supported various initiatives designed to encourage the use of cryptocurrencies. The company’s recent “Go Beyond Derivatives” strategy saw it acquire multiple Web3 applications, including the BitKeep wallet with over 9.5 million users.
Lastly, the exchange is Juventus’ general sponsor and sleeve sponsor for the Juventus women’s team for the 2022-2023 season.
The launch of the Web3 fund demonstrates Bitget’s dedication to supporting financial innovation in Asia and contributing to the development of the next generation of crypto projects.
