DWF Labs launches $20 million Cloudbreak Fund to focus on Web3 development in the Chinese-speaking region

DWF Labs Launches Cloudbreak Fund to Support Chinese Projects

Web3 investment firm and market maker DWF Labs has announced the launch of Cloudbreak Fund with a total of $20 million. The fund aims to support projects and founders in Chinese-speaking regions, including Hong Kong, China, Macau, Taiwan, and Singapore.

Cloudbreak Fund's Focus Areas

Cloudbreak Fund targets areas such as gaming, social finance, memecoins, derivatives, and layer 1 and layer 2 blockchain technologies. Gaming finance in particular is considered fertile ground for innovation, with blockchain expected to revolutionize monetization and gaming experiences.

DWF Labs' investment in LADY

In a recent move, DWF Labs allocated $5 million to Milady Meme Coin (LADYS). The investment highlights the company's confidence in the project's potential to innovate and expand the ecosystem.

DWF Labs said the partnership aims to promote collaboration and community engagement in the meme coin and broader Web3 space.

DWF Labs prioritizes projects with good potential and strong community focus, which is consistent with its broader investment philosophy.

Web3 Game Trends in 2024

The Web3 game industry is experiencing substantial growth, attracting more and more venture capital. In 2023, funding for blockchain game projects reached approximately $1.7 billion, with a large amount of investment flowing into the 270 games being developed on Immutable.

This year, King River Capital, Immutable (a blockchain game company), and Polygon Labs announced the establishment of a $100 million joint game fund.

In addition, Silicon Valley's Andreessen Horowitz (a16z) plans to invest $30 million in game startups.

About DWF Labs

Founded in 2022, DWF Labs is a global Web3 venture capital and market maker. It provides market making, secondary market investment, early-stage investment, and over-the-counter (OTC) trading services to Web3 companies, as well as token listing and advisory services. DWF Labs is part of Digital Wave Finance (DWF), one of the world’s top cryptocurrency traders, trading spot and derivatives on over 40 top exchanges. Its regional headquarters for Asia is in Singapore, with offices in Dubai, China and Hong Kong.

DWF Labs key team members