Bitget unveils $100 million venture fund with focus on Asia

Quick Take

  • Bitget, the derivatives exchange operator, today announced a new $100 million venture capital fund focused on web3.
  • The fund will invest globally, with a focus on Asia.

Bitget, the derivatives exchange operator, today announced a new $100 million venture capital fund focused on web3. The fund will invest globally, with a focus on Asia.

“We strive to support financial innovation in Asia and believe that our platform can act as a reliable, convenient, and secure link between the worlds of DeFi and CeFi. Our team of analysts has already outlined the criteria for project selection and will adhere to them strictly,” said Gracy Chen, managing director of Bitget, in a statement.

The Seychelles-based exchange operator has been busy lately as it pursues a so-called "go beyond derivatives” strategy. It acquired crypto wallet BitKeep in March after investing an additional $30 million in the startup. It then took a $10 million strategic investment from Dragonfly Capital, the crypto investment firm, on April 4.

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A spokesperson for Bitget said the $100 million is an “initial investment” and that the fund is expected to grow over time. It is also “self-funded, leveraging Bitget’s healthy financial status,” they said in response to questions from The Block. They also confirmed that the $100 million has already been allocated to the venture fund. 

Bitget is also hoping to team up with venture capital firms Dragonfly Capital, SevenX Ventures, DAO Maker, ABCDE Capital and Foresight Ventures as potential partners. Its spokesperson said these firms “will share their financial and technological expertise, and provide advisory support.”


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.

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