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Singapore's Golden Equator sets up Web3 fund
WTTB fund to focus on centralized and decentralized finance, Web3 infrastructure
The Asset 23 Sep 2022

Singapore investment holding group Golden Equator Group has partnered with Cordell Broadus – a leading investor and thought leader in the Web3 space – to set up a Web3 fund as part of their shared vision that Web3 is a mega trend and a foundation for future innovations.

The fund, named Welcome To The Block (WTTB), targets to raise US$40 million to US$50 million to invest in early-stage, innovative and unique businesses in the blockchain and Web3 space, with key areas of focus being centralised and decentralised finance, and Web3 infrastructure.

Through this fund and its businesses, Golden Equator hopes to establish mainstream adoption of blockchain technology and distributed systems as well as elevate understanding of sound tokenomics and benefits of fractionalization.

This includes investing in innovations that reinforce mainstream adoption, for example, non-fungible tokens in media and entertainment sectors across music, film, gaming and sports. The company also hopes to create learning opportunities to drive understanding of Web3 concepts through its businesses, including its personal finance education platform The Simple Sum, its NextGen and Entrepreneurship learning programmes and its business community app Swish.

“The new technologies and innovations based on Web3 have the potential to offer society a financial world that is more inclusive, equitable and accountable – increasing efficiency, liquidity and, more importantly, support for young people,” says Shirley Crystal Chua, founder and group CEO of Golden Equator. “As a young Web3 entrepreneur, Cordell is a partner who embodies the opportunity Web3 can offer and relates to the people we wish to empower, inspire and educate to help elevate understanding and adoption of Web3 applications.”

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