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Chinese VC firm GBA Capital Launches $10B Web3 Fund for Global Meta-Asset Hub

Web3 Chinese venture capital firm GBA Capital, supported by China's state-owned National Engineering Laboratory, has unveiled ambitious plans during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference on December 26.GBA Capital has committed a substantial $10 billion to establish the GBA Capital Web3 Fund, with a strategic focus on nurturing startups in virtual
Chinese venture capital firm GBA Capital, supported by China’s state-owned National Engineering Laboratory, has unveiled ambitious plans during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference on December 26.GBA Capital has committed a substantial $10 billion to establish the GBA Capital Web3 Fund, with a strategic focus on nurturing startups in virtual reality, the metaverse, and nonfungible tokens.

The ultimate goal is to transform the Guangdong-Hong Kong-Macao economic region into the global “meta-asset capital.”

Haolong Li, Chairman of GBA Capital, announced plans to conduct “meta-asset global tours” in various international locations, including Japan, Singapore, Dubai, Silicon Valley, and Europe, to enhance the visibility of meta-assets.

GBA Capital, initially founded by China Europe International Financial Group in Hong Kong, has formed crucial partnerships with financial institutions like the Asia Pacific Investment Bank and China’s state-owned National Engineering Laboratory.

The company’s focus lies in digital economy investments and incubation. GBA Capital aims to leverage industrial clusters, capital resources, corporate connections, and policy advantages to offer comprehensive support and services to enterprises in the digital economy sector.

Notably, GBA Capital’s subsidiary, Zhongrong Global, secured angel funding of 100 million Chinese yuan ($14 million) on May 29, valuing the company at that impressive amount. Zhongrong Global intends to allocate these funds to Web3 project incubation and industrial services in the artificial intelligence domain.

This year has witnessed a notable surge in Web3 startups and international corporate relocations to the Guangdong-Hong Kong-Macao Bay Area, solidifying its position as a burgeoning hub in the ever-evolving digital economy landscape.

Wasif Shakir

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