Gabriel Budi Sutrisno · · 1 min readSouth Korea’s Wemade to create $100m Web3 fund with SG investment firm
Wemade tower / Photo credit: Wemade
Wemade, a South Korean gaming company, is collaborating with Singapore-based investment firm Whampoa Digital to establish a US$100 million Web3 fund.
With this, Wemade and Whampoa Digital will co-invest in both gaming studios and blockchain projects in the Middle East and North Africa region.
This comes amid Wemade’s plans to develop a global Web3 gaming hub in the Dubai International Financial Centre (DIFC), where it will also set up an office for the new fund. This hub, along with DIFC’s own innovation hub, will provide facilities and mentorship for the fund’s portfolio firms.
Founded in 2000, Wemade is the creator of the popular Legend of Mir series. Expanding into the blockchain space, the company previously launched Wemix, a tech ecosystem offering Web3 services. Meanwhile, its blockchain gaming platform Wemix Play has over 250,000 players.
Wemade has also invested in gaming studios, notably Lionheart Studio, Shift Up, and Madngine.
Whampoa Digital, on the other hand, is the investment arm of Whampoa Group, a multifamily office backing global tech firms like TikTok’s parent ByteDance and crypto major Binance.
See also: One Singapore VC firm’s unique approach to finding next gaming goldmine
Editing by Miguel Cordon and Dhania Putri Sarahtika
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