At the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference on December 26, Chinese venture capital company GBA Capital announced a big investment in the Web3 sector.
This was a big deal for the digital economy. The company said it would put $10 billion into a fund to help growth in areas like NFTs, virtual reality, and the metaverse. With this move, the area of Guangdong, Hong Kong, and Macao is meant to become a world center for meta-assets.
This strategic investment is being made by GBA Capital, a venture capital company in Hong Kong that was started by China Europe International Financial Group. It has the support of some very important partners.
The Asia Pacific Investment Bank and the National Engineering Laboratory, a powerful Chinese government-owned organization that is becoming more interested in Web3 projects, are two of them.
Haolong Li, the head of the company, laid out big plans for the fund. Li stressed that in addition to the money investment, GBA Capital will also take “meta-asset global tours” in Japan, Singapore, Dubai, Silicon Valley, and several places in Europe. The goal of these tours is to make meta-assets more well-known and appealing around the world. This shows that the Web3 community is taking a proactive approach to encouraging international collaboration and understanding.
Because GBA Capital is focused on the digital economy, it stresses its role in investing in and helping to grow new digital technologies. The business hopes to use its network of industrial clusters, financial resources, corporate partnerships, and policy advantages to offer full support and services to businesses working in this quickly changing field.
![Chinese VC unleashes $10 Billion web3 fund image 110](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/12/image-110.png?resize=1024%2C657&ssl=1)
![Chinese VC unleashes $10 Billion web3 fund image 110](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/12/image-110.png?resize=1024%2C657&ssl=1)
Another sign of GBA Capital’s dedication to the Web3 space is that its company, Zhongrong Global, successfully raised 100 million Chinese yuan ($14 million) in angel funding earlier this year. The company’s strategic focus on cutting-edge digital technologies is shown by the fact that this money will be used to support Web3 projects and offer AI-related services to businesses.
The Guangdong, Hong Kong, and Macao Bay Area has been a center for digital progress, especially in the Web3 field. There are a lot more Web3 startups in the area, and companies moving there from other countries are becoming more interested.
Because of this trend and GBA Capital’s big investment, the area could become a world leader in the growing Web3 and digital economy.
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