DWF Labs, a Web3 investor, has launched the $20 million Cloudbreak Fund to support promising projects and founders in Chinese-speaking regions. This fund focuses on GameFi, SocialFi, Memecoins, Derivatives, and Layer 1/Layer 2 infrastructure projects, providing essential resources for their growth. Andrei Grachev, Managing Partner at DWF Labs, highlighted the importance of supporting the culture and work ethic of these founders.

Andrei Grachev further clarified that, since 2018, they have worked with founders in Chinese-speaking regions. He admires their culture and strong work ethic. He further clarified that the projects have grown significantly in recent months and need dedicated support to reach their full potential.

Grachev emphasized the recent growth in these regions and the need for support to help projects achieve their potential. The purpose of Cloudbreak Fund is specifically to unlock the potential of emerging projects. DWF Labs supported tokenization efforts with over 700 projects and was Bybit’s Best Liquidity Provider of 2024. They handle wallet integrations, hackathons, funding, and grant programs in the Web3 ecosystem. They collaborate with blockchains like TON, Algorand, Gala Chain, and Klatyn.

Growing investment from venture capitalists in Web3

According to an on-chain report, In Q1 2024, Web3 firms saw a 55% surge in total investment. Driven by the heightened interest of venture capitalists, AI, and gaming protocols attract the bulk of the funding, marking a notable uptick in VC sentiment towards Web3.

Source: QuickNode

Venture capital enthusiasm on Web3 is underscored by Paradigm’s substantial $225 million investment in Monad Labs, revealed in April. Monad Labs aims to establish a competitive layer-1 blockchain network akin to Solana. Additionally, Berachain secured $42 million in Series B funding, and 0G Labs, concentrating on data availability blockchains for AI protocols, raised $35 million in a pre-seed round.

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