DWF Labs Launches 20 Million Cloudbreak Fund to Foster Web3 in ChineseSpeaking Areas
DWF Labs, a prominent investor in the Web3 sector, has introduced the Cloudbreak Fund worth $20 million. This initiative aims to bolster Web3 projects and support founders in Chinese-speaking regions, according to updates shared with Finbold on July 3.
The fund is geared towards nurturing innovation across various sectors including GameFi, SocialFi, Memecoins, Derivatives, and Layer-1/Layer-2 infrastructure projects. It provides essential resources to accelerate growth and establish a robust presence within the Web3 ecosystem.
Andrei Grachev, Managing Partner at DWF Labs, expressed his enthusiasm for the endeavor, highlighting their longstanding engagement with founders in Chinese-speaking areas since 2018. He emphasized admiration for their culture and strong work ethic, noting the significant growth these projects have seen recently. Grachev explained that the Cloudbreak Fund was created to meet this demand and unlock the potential of emerging projects in these regions.
DWF Labs, renowned as a seasoned investor and market maker in Web3, boasts a partner network encompassing over 700 projects. Recognized as Bybit’s Best Liquidity Provider of 2024, they play a pivotal role in facilitating tokenization efforts for projects. Their services extend to managing wallet integrations, organizing hackathons, funding initiatives, and grant programs across multiple blockchains including TON, Algorand, Gala Chain, and Klaytn. Additionally, DWF Labs leverages a robust network of Key Opinion Leaders (KOLs) for strategic brand promotion and marketing channel distribution.
Earlier this year, DWF Labs reinforced their commitment to the MENA region by partnering with DMCC, a significant free zone and Government of Dubai Authority, to launch a $5 million growth platform for Web3 and blockchain enterprises. The establishment of the Cloudbreak Fund underscores DWF Labs’s dedication to fostering innovation and growth in the Web3 space, particularly in Chinese-speaking regions. The fund aims to elevate local projects onto the global stage and explore new applications for Web3 technology.
