The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Bitget
Bitget, a crypto derivatives and copy trading platform, has launched its Bitget Web3 Fund with an initial investment of $100 million.

The fund will focus on investing in Web3-friendly venture capital and outstanding Web3 projects, with the goal of supporting the development of the next generation of crypto projects. (β€œWeb 3” refers to a new version of the World Wide Web which incorporates concepts such as decentralisation, blockchain technologies, and token-based economics.)

The fund will seek out venture capitalists and projects globally but prioritise partners in Asia that have a clear roadmap and an experienced team, and those that offer innovative solutions to real-world problems, Bitget said in a statement. It has so far received inquiries from VCs including Foresight Ventures, Dragonfly Capital, SevenX Ventures, DAO Maker, and ABCDE Capital for potential partnerships.

Bidget was established in 2018; the exchange has more than eight million users.