TLDR
- DWF Labs has launched a $20 million Cloudbreak Fund to support Web3 projects in Chinese-speaking regions.
- The fund will focus on gaming finance, social finance, memecoins, derivatives, and layer-1/layer-2 projects.
- DWF Labs aims to provide both financial support and strategic resources to accelerate the growth of these projects.
- The launch comes amid market turbulence, with DWF hoping to reinvigorate project development despite current challenges.
- DWF Labs has a track record of investments in Web3, including a recent $5 million investment in the Milady Meme Coin (LADYS).
DWF Labs, a prominent Web3 investor and market maker, has announced the launch of a $20 million Cloudbreak Fund aimed at supporting Web3 projects and founders 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.
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 fund’s launch is particularly significant given the current market conditions. Grachev emphasized that the decision to introduce the Cloudbreak 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. As a seasoned Web3 investor and market maker, DWF Labs offers access to a network of over 700 partner companies and has established itself as a premier liquidity provider.
DWF Labs remains a strong supporter of the Web3 industry through times of market fluctuations. To show our commitment, we’re launching our $20 million USD Cloudbreak Fund to empower promising Chinese-speaking region projects and founders with substantial investments and strategic… pic.twitter.com/Uhdzytl9aN
— DWF Labs (@DWFLabs) July 4, 2024
The company’s commitment to the Web3 ecosystem is further evidenced by its involvement in grant programs, hackathons, funding campaigns, and wallet integrations for various blockchains, including TON, Algorand, Gala Chain, and Klatyn. DWF Labs was also named Bybit’s Best Liquidity Provider of 2024, underlining its significant role in the industry.
The Cloudbreak Fund is not DWF Labs’ first foray into regional support for Web3 projects. Earlier this year, the firm partnered with the Government of Dubai Authority and DMCC to launch a $5 million growth platform for Web3 and blockchain companies in the MENA region.
DWF Labs has also demonstrated its willingness to invest in diverse projects within the Web3 space. A notable recent investment includes a $5 million injection into the Milady Meme Coin (LADYS), signaling the firm’s confidence in the project’s potential and its commitment to supporting various aspects of the Web3 ecosystem, including the burgeoning memecoin sector.
The launch of the Cloudbreak Fund aligns with broader trends in the Web3 and blockchain gaming sectors. In 2024, Web3 gaming has been growing rapidly, attracting significant venture capital investment.
Last year, blockchain gaming-related funding rounds reached an estimated $1.7 billion, with a significant portion flowing to projects in development on platforms like Immutable.
