Hong Kong-based Newman Capital has announced a US$50 million investment fund for Web3 solutions.
Photo: 123RF.com
The new fund will cover tech investments and Web3 applications as well as art and collectibles. It also aims to help conglomerates ride the Web3 wave and navigate the growing space within Asia.
Newman Capital was launched in March by Adrian Lai, who also co-founded Liquefy, a fintech firm that offers an end-to-end tokenization tech solution.
Among Newman Capital’s latest investments is Asia-based metaverse platform Gemie, which recently raised US$3.8 million raise. The investment firm has also backed SpaceX, Epic Games, Reddit, Dapper Labs, and Loda Finance. Its art collection includes works by world-renowned artists like Yayoi Kusama and Banksy.
See also: Behind the metaverse real estate rush
Editing by Miguel Cordon and Eileen C. Ang
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