DWF Labs introduces $20M Cloudbreak Fund to empower Web3 innovators

DWF Labs introduces $20M Cloudbreak Fund to empower Web3 innovators
Share link:

In this post:

  • DWF Labs launches a $20 million Cloudbreak Fund to support Web3 projects in Chinese-speaking regions.
  • The fund targets GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2 infrastructure projects.
  • VC interest in Web3 is rising, with massive early-stage funding and renewed investment enthusiasm.

Web3 investor DWF Labs has unveiled the $20 million Cloudbreak Fund, aimed at supporting promising projects and founders in Chinese-speaking regions.

This fund targets groundbreaking initiatives in GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2 infrastructure projects, providing them with the necessary resources to achieve their full potential.

Andrei Grachev, Managing Partner at DWF Labs, expressed his enthusiasm for the initiative. He emphasized the importance of supporting the culture and work ethic of founders in Chinese-speaking regions. He stated:

“We have been working with founders in Chinese-speaking regions since 2018. I’m personally a big fan of their culture and intense, diligent work ethic. These projects have experienced tremendous growth in recent months and require dedicated support to realize their full potential.”

Grachev highlighted the recent growth in these regions and the need for dedicated support to help projects realize their full potential.

The Cloudbreak Fund was reportedly created to meet this need, designed specifically to unlock the potential of emerging projects in these areas.

With a partner network of over 700+ projects and recognition as Bybit’s Best Liquidity Provider of 2024, DWF Labs is in a prime position to assist projects aiming for tokenization.

They oversee various initiatives, including wallet integrations, hackathons, funding initiatives, and grant programs across the Web3 ecosystem. This includes blockchains like TON, Algorand, Gala Chain, and Klatyn.

Rising VC interest in Web3

The first quarter of 2024 saw a 55% increase in total investment in Web3 firms, signaling a renewed interest from venture capitalists (VCs).

The number of Web3 VC investment deals also rose by 36% compared to the previous quarter, according to a Q1 on-chain report.

The report indicates that AI and gaming-related Web3 protocols received the majority of the investment, marking the first time in over a year that investments have increased, suggesting a positive shift in VC sentiment towards Web3.

DWF Labs introduces $20M Cloudbreak Fund to empower Web3 innovators
Source: QuickNode

VC interest in Web3 is further highlighted by Paradigm’s $225 million funding round into Monad Labs, announced in April. Monad Labs is building a new layer-1 blockchain network to compete with Solana.

Berachain secured a $42 million Series B round, while 0G Labs, focused on data availability blockchain for AI protocols, raised $35 million in a pre-seed round.

Reporting by Jai Hamid

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Which Ethereum (ETH) tokens show signs of accumulation from whales and smart money
Subscribe to CryptoPolitan