Whampoa uses $ 100 million for Web3: Report

Whampoa uses $ 100 million for Web3: Report

The investment arm of one of the largest multi family offices Singapore is expected to provide $ 100 million for the investment and establishment of web3 startups. Reuters reported Thursday.

The investment business for digital assets of the Whampoa Group, Whampoa Digital, is expected to be flowed into the sector via a risk fund that aims at equity and product brands or services.

The funds of Whampoa, which intends to increase its investments in this area, will probably start in the next quarter of about one to three months, said the Whampoa Group CEO in the report.

The group said that she also planned to raise $ 50 million for a crypto -related hedge fund Separated reports . Despite the poor performance of Crypto this year, the group's executives said that they believe that investments in Web3 technology would offer considerable long-term growth potential.

Whampoa is part of the Web3 venture investing trends

In the middle of a declining market mood and falling crypto prices, large allocations to institutional capital continue to flow into the web3 sector of crypto, and this is not the first advance of Whampoa.

The company supported the $ 500 million funds in June-which is also intended for web3 investments.

The venture capital giant Andreessen Horowitz meanwhile put on the largest funds across the industry with a total volume of $ 4.5 billion, a step that is generally assumed that he would give a significant boost to those who develop software and applications.

WHAMPOA was founded by the daughter of the first Prime Minister of Singapore and is a private investment group that, according to its own information, focuses on growing, future -oriented investments Linkedin-s page .

The group's participation portfolio comprises around 200 companies that it has founded in the past ten years.

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The contribution Whatmoa to WILD $ 100m for web3: Report is not a financial advice.