China’s venture capital firm GBA Capital has recently made waves in the digital economy space with its bold announcement of a $10 billion investment fund dedicated to Web3 startups.

The focus of this substantial fund is on innovative areas such as virtual reality, the metaverse, and non-fungible tokens (NFTs).

This announcement was a highlight of the Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Development Conference on December 26.

Nurturing Web3 Innovation

GBA Capital, led by Chairman Haolong Li, envisions this fund as a catalyst to position the Guangdong-Hong Kong-Macao region as the “world’s meta-asset capital”.

The strategic plan involves global tours in key locations worldwide, including Japan, Singapore, Dubai, Silicon Valley, and Europe. These tours aim to elevate the visibility and influence of meta-assets on a global scale.

Comprehensive Support and Services

With a strong commitment to fostering innovation in the digital economy, GBA Capital plans to provide extensive support and services.

This holistic approach includes education training, industry capital, and investment incubation for startups operating in the Web3 and artificial intelligence (AI) space.

The venture capital firm leverages its partnerships and resources to play a pivotal role in the growth of these sectors.

Zhongrong Global’s Angel Funding Success

In a noteworthy development, GBA Capital’s subsidiary, Zhongrong Global, achieved significant success on May 29 by raising angel funding totaling 100 million Chinese yuan ($14 million).

These funds are designated to support Web3 project incubation and the provision of industrial services within the artificial intelligence domain.

GBA Capital’s Holistic Strategy

Beyond the investment fund, GBA Capital is deeply involved in the digital economy landscape.

The firm integrates industrial clusters, capital resources, corporate resources, and policy advantages to provide comprehensive support and services to enterprises.

Established by China Europe International Financial Group in Hong Kong, GBA Capital enjoys backing from prominent entities, including China’s state-owned National Engineering Laboratory and financial institutions like the Asia Pacific Investment Bank.

In May, the company’s subsidiary, Hongkong Global, attracted angel funding from institutional investors, reaching a valuation of 100 million Chinese yuan ($14 million).

This further emphasizes GBA Capital’s strategic vision for incubating Web3 projects and contributing to industrial services in the burgeoning field of artificial intelligence.