Bitget, the derivatives exchange operator, has announced a new $100 million venture capital fund, with a focus on Web3.
The fund will invest globally, with a particular emphasis on Asia. According to Bitget’s managing director, Gracy Chen, the company aims to support financial innovation in Asia by acting as a secure link between the worlds of DeFi and CeFi.
The company has recently pursued a “go beyond derivatives” strategy, acquiring crypto wallet BitKeep and making a strategic investment of $10 million from crypto investment firm Dragonfly Capital.
The $100 million venture fund is an initial investment, and the company is self-funded and leveraging its healthy financial status. The fund is expected to grow over time, with funds already allocated.
Bitget is also looking to team up with venture capital firms Dragonfly Capital, SevenX Ventures, DAO Maker, ABCDE Capital, and Foresight Ventures, which will provide advisory support and share their financial and technological expertise.
The venture fund has strict project selection criteria that Bitget’s team of analysts will adhere to. With this latest venture, Bitget is hoping to continue driving financial innovation in Asia, using its platform to bridge the gap between DeFi and CeFi.
