Bitrue Ventures has announced the launch of a $40 million investment fund to support web3 startups, with individual investments of up to $200,000.
According to a recent Bitrue press release, the fund will focus on sectors such as artificial intelligence (AI), real world asset (RWA) tokenization, GameFi, decentralized physical infrastructure networks (DePIN) and decentralized finance (DeFi).
Bitrue supports Web3 innovation
The fund aims to provide not only financial support, but also access to Bitrue’s extensive network of industry connections and expertise. This holistic approach is designed to help startups overcome the various challenges they may encounter in their development stages.
In addition to the funding, Bitrue Ventures plans to publish research reports that will be available to the public. These reports are intended to provide guidance to development teams and inform consumers about the future of the industry, thus fostering a more informed and prepared market environment.
The selection criteria for funding will focus on projects in the AI, RWA tokenization, GameFi, DePIN and DeFi sectors. These areas are seen as having significant growth potential and are currently attracting strong interest from both institutional investors and the broader public.
The Bitrue Ventures initiative is part of a growing influx of capital from institutional investors into the web3 space. The fund could position itself as a supporter of projects and technologies, reinforcing Bitrue’s reputation as a key player in the cryptocurrency ecosystem.
Web3 startups raised $1.9 billion in the first quarter
A Crunchbase report released in April shows that web3 start-ups raised nearly $1.9 billion in the first quarter of 2024, a significant increase of 58% over the previous quarter.
Chris Metinko, the report’s author, noted that investors are increasingly focusing on the artificial intelligence sector, marking a shift in their investment strategy. The $1.9 billion investment came from a total of 346 deals.
