China Web3 project get $20 million fund and support from DWF Labs.

Web3 market maker and investor DWF Labs has announced a strategic initiative with the launch of the $20 million Cloudbreak Fund, aimed at supporting Chinese web3 projects and founders. This fund will provide significant investments and essential resources to foster development in the web3 sector.

DWF Labs

DWF Labs managing partner Andrei Grachev highlighted the firm’s ongoing work in Chinese-speaking regions since 2018, noting the remarkable growth in these areas. He emphasized that the fund’s launch during a market downturn would rejuvenate projects by enhancing their capacity and determination to innovate.

The Cloudbreak Fund will target a variety of sectors, including layer-1/layer-2 solutions, memecoins, derivatives, Social Finance (SocialFi), Gaming Finance (GameFi), and AI projects. Eligible projects are encouraged to apply.

DWF Labs has a robust track record of investing in the Web3 space, recently leading a $5 million investment in the Milady meme coin project and backing the cryptocurrency information platform DropsTab in May.

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