Web3Labs has announced a strategic investment of over $2 million. Participating investors include: Foresight Ventures, VCB Technology, Waterdrip Capital, Cipholio Ventures, NextGen Venture Partners, and Qtum Foundation.
In response to this, Caspar Wong, CEO of Web3Labs, stated that in the past year, Web3Labs has managed to be profitable even in the industry’s downturn, which demonstrates the industry’s recognition of Web3Labs’ services. The investment will be used to quickly establish acceleration programs in different vertical tracks, strengthen international project collaborations, and build a Web3 startup ecosystem gateway.
About Web3Labs
As a one-stop gateway for incubation, acceleration, and investment
for Web3.0 startups, Web3Labs aims to respond to the policy statement from the HKSAR Government on the development of virtual assets in Hong Kong. Through on-the-ground support, investment acceleration, technical collaborations, and compliance assistance. It currently has offline incubators in Hong Kong, Singapore, South Korea, Hangzhou, and Beijing.
About Foresight Ventures
Foresight Ventures is a venture capital firm that focuses on blockchain technology and the cryptocurrency industry. They invest early and make quick judgments, and their ecosystem, which includes the crypto-exchange Bitget and the crypto-wallet BitKeep, provides extensive assistance. They are committed to identifying disruptive innovation prospects for the future decades in the Web3.0 space, while maintaining transparency, multidisciplinary collaboration, internationalization, and long-termism, and offering a complete spectrum of assistance for initiatives from zero to one till success. Foresight Ventures was founded in 2021 and is based in Singapore.
About VCB Technology Limited
VCB Technology Limited, founded in 2019 and headquartered in Hong Kong, is a tech company that upholds the concept of technological innovation. With an industry-leading technical team, VCB focuses on providing superior technical services, development, and consulting for global customers. Based on profound industry experience and deep technical understanding, VCB relentlessly explores cutting-edge technologies to provide strong support for digital transformation for customers.
VCB’s mission is to empower various industries with advanced technology, creating higher commercial value for customers. In the fields of software development, technical consulting, and custom solutions, VCB has earned widespread acclaim in the industry due to its exceptional technical strength and flexible service model. VCB understands the power of technology applications, not only committed to providing excellent technical services but also focusing on providing personalized solutions to meet the multi-level needs of customers, continually injecting vitality into the development of future technology.
The company’s founder and shareholder, Yuan Dawei, is a co-founder of Huobi Group and CEO of Cold Stone Security Technology Company Limited in Hong Kong.
About Cipholio Ventures
Cipholio Ventures is a research-driven investment firm specializing in cryptocurrencies, tokens, and blockchain projects that have the potential to reshape the trillion-dollar markets. Cipholio Ventures serve as a bridge to connect people, technology, and capital in the decentralized world. Cipholio Ventures aim to seek opportunities in Web 3.0, DeFi, GameFi, Metaverse, and Layer 2 based on our deep understanding of the industry and data-driven decisions.
About Waterdrip Capital
Waterdrip Capital was co-funded by Chinese blockchain industry veterans in 2017. As an investment institution focusing on the blockchain vertical field, Waterdrip Capital has invested in more than 150 blockchain projects, including Polkadot, Cosmos, Filecoin, The Graph, Phala network, Bifrost, Metisdao, Polkadex. All of them performed well and showed high returns.
This year, Waterdrip’s Hong Kong branch cooperated with CPICIMHK on the Pacific Waterdrip Digital Asset Fund. CPICIMHK provided investment consulting and fund sales services for the fund.
About NexGen Venture
NexGen Venture is a multi-strategy investment company that engages in both secondary hedge fund operations and venture capital investments, NexGen Venture manages tens of millions of dollars in funds, aiming to achieve capital appreciation and returns through these two business models. NexGen Venture have established a symbiotic feedback loop between our hedge fund operations and venture activities, enabling us to optimise opportunities at the initial stage.
About Qtum
Qtum is an open-source Proof-of-Stake (PoS) protocol that combines the functionalities of Bitcoin and Ethereum onto a singular platform; leveraging the security of Bitcoin’s Unspent Transaction Output (UTXO) model while providing the functionality of Ethereum’s Virtual Machine. The protocol was founded in 2016 and managed by the Qtum Chain Foundation, a non-profit foundation built to support the growth of the ecosystem and blockchain.
