Bitrue Ventures introduces a $40M investment fund for Web3 startups, offering up to $200K per project along with extensive industry support and resources.
Bitrue Ventures, the investment arm of the crypto exchange Bitrue, has unveiled a $40 million fund aimed at supporting and accelerating the growth of Web3 startups. This initiative seeks to provide financial backing, industry connections, and technical expertise to promising projects in the Web3 ecosystem.
Key Points:
Fund Overview:
Investment Pool: Bitrue Ventures has allocated $40 million for Web3 startups and developers.
Individual Investment: Eligible projects can receive up to $200,000 in funding.
Support Beyond Funding:
Comprehensive Assistance: Bitrue will offer development expertise, industry connections, and management support to funded projects.
Resource Allocation: Startups have the autonomy to use their funds as needed without external interference.
Focus Areas:
Priority Verticals: Projects in artificial intelligence, real-world asset tokenization (RWA), GameFi, decentralized physical infrastructure networks (DePIN), and decentralized finance (DeFi) are highly encouraged to apply.
Research-Driven: The focus areas are based on Bitrue’s research report and pilot investment round outcomes.
Success Stories:
Pilot Investments: Cardano-based projects WingRiders and Liqwid Finance have already received funding from Bitrue Ventures.
Token Listing Advantage:
Automatic Listing: Funded projects will have their tokens listed on the Bitrue exchange, gaining exposure to over 10 million users.
Marketing Support: Projects will also benefit from integrated marketing services provided by Bitrue.
Security Measures:
Past Hack Incident: Bitrue acknowledged a hot wallet exploit in April that resulted in a $23 million loss, which accounted for less than 5% of its overall funds.
Ongoing Security: The exchange has assured that the remaining funds are secure and a thorough security review is in progress.
Bitrue Ventures’ $40 million investment fund marks a significant step towards nurturing the next generation of Web3 startups. By providing not just financial support but also comprehensive industry resources, Bitrue aims to accelerate innovation and success in the Web3 space.
Source: Cointelegraph
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