DWF Labs has launched a $20 million Cloudbreak Fund to support Web3 projects and founders in the Greater China region. The fund provides strategic investments and resources to accelerate the development of Web3 projects, according to a press release.
The Cloudbreak Fund will fund areas such as GameFi, SocialFi, memecoin, derivatives, and layer 1/layer 2 projects. DWF encourages projects in the China region and in these areas to apply to receive the necessary resources to reach their full potential.
Explaining the decision to launch the Cloudbreak Fund at a time of market volatility, Andrei Grachev, Managing Partner at DWF Labs said:
“The launch of the Cloudbreak Fund comes at a critical time in the market downturn. We hope that this fund will further strengthen the ability and desire of projects to continue building despite current challenges.”
Grachev stressed that this strategic move is in line with “DWF Labs’ commitment to the Web3 ecosystem.”
“Our goal is to support innovative and promising Web3 projects and ensure they have the resources they need to grow and succeed in this time.”
Read more: Which Altcoins is DWF Labs Investing in?
