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DWF Labs, known for its aggressive market-making and price pumping strategies in the Web3 space, has unveiled the $20 million Cloudbreak Fund. This fund aims to support Web3 projects and founders in China, a nation renowned for its significant tech innovation and rapid adoption.
According to an official press release, the Cloudbreak Fund is designed to provide substantial investments and strategic resources to accelerate the growth of Web3 projects in this populous country.
Related: DWF Labs Continues Funding for Memecoin, This Time with Floki Inu
Why DWF Labs Established the Cloudbreak Fund
Andrei Grachev, Managing Partner at DWF Labs, outlined the reasons for creating the Cloudbreak Fund:
Projects in China have seen tremendous growth in recent months and require dedicated support. To meet this need, we created Cloudbreak—a fund designed to unlock the potential of emerging projects.
The Cloudbreak Fund will focus on several key sectors, including gaming finance (GameFi), social finance (SocialFi), memecoins, derivatives, and layer-1/layer-2 projects.
DWF encourages developers in China working within these sectors to apply for the Cloudbreak Fund to receive the necessary resources to “realize their full potential.”
In a written Q&A session, Grachev elaborated that the DWF Labs team will thoroughly review each application and welcomes submissions from any project in these areas.
We encourage these projects to apply and look forward to building a brighter future together.
Addressing the decision to launch the Cloudbreak Fund amid market turbulence, Grachev explained:
The launch of the Cloudbreak Fund comes at a critical moment when the market is experiencing a downturn. We hope this fund will reignite the capability and drive of projects to continue building despite the current challenges.
Grachev emphasized that this strategic move aligns with DWF Labs’ “commitment to the Web3 ecosystem.”
Our goal is to support innovative and promising Web3 projects and ensure they have the resources needed to thrive and succeed during these challenging times.
