GBA Capital commits $10 billion to Web 3.0 fund

GBA Capital's Web 3.0 fund: GBA Capital, a Chinese venture capital firm, has unveiled plans to allocate $10 billion towards the creation of a Web 3.0 fund. The announcement reportedly took place on December 26, 2023, at the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference, according to media reports.

The newly established GBA Capital Web 3.0 fund aims to channel investments into emerging startups specialising in areas such as virtual reality, the metaverse, and non-fungible tokens (NFTs). This substantial financial commitment is anticipated to position the Guangdong-Hong Kong-Macao economic region as a pivotal hub for meta-assets.

Haolong Li, Chairman of GBA Capital, elaborated on the fund's strategic vision, highlighting plans for a series of meta-asset global tours. These initiatives are slated to span across key international locations including Japan, Singapore, Dubai, Silicon Valley, and Europe. The objective behind these tours is to amplify the prominence and recognition of meta-assets on a global scale.

In addition to its primary focus on virtual reality and the metaverse, the fund's scope extends to fostering innovation in artificial intelligence.