DWF Labs, a prominent player in the Web3 market, has announced the launch of a new $20 million investment fund specifically targeted at Chinese Web3 projects. Known as the Cloudbreak Fund, this initiative is designed to support and accelerate the growth of innovative projects within China’s burgeoning Web3 ecosystem.
Strategic Expansion in Chinese Markets
Since 2018, DWF Labs has been actively involved in the Chinese-speaking regions, witnessing significant advancements in the local Web3 landscape.
“The projects here have shown tremendous growth in recent months,” stated Andrei Grachev, Managing Partner at DWF Labs.
He further emphasized that the Cloudbreak Fund aims to unlock the full potential of these ventures, especially during a time when the market faces downturns. The fund is set to reinvigorate these projects by enhancing their development capabilities and encouraging ongoing innovation.
DWF Labs has a history of making impactful investments that solidify the foundation of the Web3 space. Recently, the firm led a $5 million investment round for the Milady meme coin project and supported the cryptocurrency information platform, DropsTab.
Their investment portfolio also includes significant contributions to major blockchain networks such as the Telegram Open Network (TON) and partnerships with leading firms like cryptocurrency custodian Fireblocks.
New partnership E-Football Manager x Tonoreum
We are thrilled to announce our partnership with Tonoreum
Tonoreum is a groundbreaking Proof of Link consensus project
By integrating with the Telegram Open Network (TON), Tonoreum allows users to mine TOR currency… pic.twitter.com/81RHxurn47
— MiroDK (@MiroDK77) June 21, 2024
DWF Labs: A Pillar of Support Amidst Controversies
Despite its strong investment track record, DWF Labs has not been without controversy. Recently, Binance’s investigative team accused the firm of market manipulation, alleging that it artificially inflated trading volumes on certain exchanges—a claim that DWF Labs has vigorously denied as unfounded.
Earlier in April 2023, the firm was also criticized by a crypto commentator for allegedly dumping $65 million worth of tokens in projects it had previously invested in.
Despite these challenges, DWF Labs remains committed to its mission in the Web3 domain, now focusing on asset tokenization projects. The firm has been recognized as the best liquidity provider by the crypto exchange Bybit in 2024 and maintains a partner network of over 700 projects.
Through the Cloudbreak Fund, DWF Labs continues to underline its commitment to fostering innovation and growth within the Web3 sector, especially in the Chinese market, where it sees significant potential for future developments.
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