Bitget unveils $100m fund to push Web3 adoption in Asia

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Crypto firm Bitget has launched the Bitget Web3 Fund with an initial investment of US$100 million.

The fund will seek out VC firms and projects globally, prioritizing partners in Asia that have a clear roadmap and an experienced team. It will also focus on projects “that offer innovative solutions to real-world problems,” according to a statement.

“We strive to support financial innovation in Asia and believe that our platform can act as a reliable, convenient, and secure link between the worlds of decentralized and centralized finance,” said Bitget managing director Gracy Chen.

The exchange said it has already received inquiries from several VC firms – including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker, and ABCDE Capital – for potential partnerships.

Founded in 2018, Bitget provides futures trading and copy trading services. It has over 8 million users in over 100 countries and regions. The company has collaborated with high-profile figures and organizations such as Lionel Messi, Juventus, and PGL to promote the adoption of cryptocurrency.

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Last month, Bitget became the controlling shareholder in crypto wallet BitKeep after a US$30 million investment. With more than 9.5 million users, BitKeep is expected to improve the Web3 surfing experience for Bitget users.