July 8, 2024
By Sharan Kaur Phillora
DWF Labs, a prominent Web3 investor and market maker, has announced the launch of a $20 million Cloudbreak Fund aimed at supporting Web3 projects in Chinese-speaking regions. This strategic move comes at a time when the crypto market is experiencing turbulence, highlighting DWF Labs’ commitment to fostering innovation and growth in the Web3 ecosystem.
Here’s what we know:
The Cloudbreak Fund will focus on several key sectors within the Web3 space, including gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and layer-1/layer-2 projects. By targeting these areas, DWF Labs aims to capitalize on the recent growth experienced by projects in Chinese-speaking regions and provide the necessary support to help them reach their full potential.
Andrei Grachev, Managing Partner at DWF Labs, explained the rationale behind the fund’s creation: “Projects in Chinese-speaking regions have experienced tremendous growth in recent months and require dedicated support. To meet this need, Cloudbreak was created, a fund designed to unlock the potential of emerging projects in Chinese-speaking regions.”
The launch of the Cloudbreak Fund is particularly significant given the current market conditions. Grachev emphasized that the decision to introduce the fund during a market downturn is a strategic move aimed at reinvigorating projects’ ability and willingness to continue building despite current challenges.
DWF Labs brings a wealth of experience to the table, having worked with founders in Chinese-speaking regions since 2018. The firm’s expertise extends beyond mere financial support, offering access to a network of over 700 partner companies and establishing itself as a premier liquidity provider.
This initiative follows DWF Labs’ recent partnership with DMCC to offer a $5 million growth platform for Web3 and blockchain businesses in the MENA region, demonstrating the company’s global commitment supporting the Web3 ecosystem.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
