Chinese venture capital firm GBA Capital has unveiled ambitious plans to launch a $10 billion Web3 fund, with a strategic emphasis on supporting startups in virtual reality (VR), the metaverse, and non-fungible tokens (NFTs). The announcement, made during the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference on December 26, positions GBA Capital to play a pivotal role in propelling the economic region into a global leader in meta-assets.
Fund Focus and Goals
The $10 billion investment fund by GBA Capital is designed to catalyze the growth and innovation of companies operating within the virtual reality, metaverse, NFTs, and real-world assets (RWA) sectors. Haolong Li, Chairman of GBA Capital, outlined the strategic vision of positioning the Guangdong-Hong Kong-Macao area as the “world’s meta-asset capital.” The fund aims to provide comprehensive support and services to startups, encompassing education training, industry capital, and investment incubation.
In a bid to enhance the visibility of meta-assets, GBA Capital plans to organize global tours in various locations, including Japan, Singapore, Dubai, Silicon Valley, and Europe. These tours are expected to foster collaboration, attract global talent, and establish the Guangdong-Hong Kong-Macao area as a prominent hub for Web3 innovation.
Digital Economy Focus
GBA Capital’s strategic focus on the digital economy aligns with its commitment to encouraging innovation and growth in the sector. Leveraging partnerships and resources, the venture capital firm aims to provide comprehensive support and services to enterprises operating in Web3 and artificial intelligence (AI). The fund will play a crucial role in accelerating the development of startups within the designated sectors.
GBA Capital’s subsidiary, Zhongrong Global, achieved significant success in a previous angel funding round, securing a valuation of 100 million Chinese yuan ($14 million) on May 29. The funds obtained by Zhongrong Global are earmarked for supporting Web3 project incubation and offering industrial services within the artificial intelligence domain.
Integrated Approach and Backing
Established by China Europe International Financial Group in Hong Kong, GBA Capital follows an integrated approach, combining industrial clusters, capital resources, corporate resources, and policy advantages to offer comprehensive support and services to enterprises. Backed by entities such as China’s state-owned National Engineering Laboratory and financial institutions like the Asia Pacific Investment Bank, GBA Capital is strategically positioned to drive the growth of the digital economy in the Guangdong-Hong Kong-Macao region.
GBA Capital’s $10 billion Web3 fund signifies a significant commitment to fostering innovation and growth in the realms of virtual reality, the metaverse, and NFTs. With a global vision and strategic goals, the venture capital firm aims to position the Guangdong-Hong Kong-Macao region as a global leader in meta-assets, contributing to the evolution of the digital economy in the dynamic landscape of China and beyond.