Ninety Eight Launches $25 Million Fund to Support Web3 Startups in Asia

With a focus on Asia, the ecosystem fund aims to accelerate the growth of Web3 startups in the region. In particular, Ninety Eight’s investment fund helps address the needs and challenges faced by many builders as the Web3 space rapidly evolves.

Coin98 Finance has just officially changed its name to Ninety Eight

Accordingly, the project provides both financial and strategic support to selected startups. At the same time, Ninety Eight will work closely with these platforms to provide guidance and access to a wide network of partners in the blockchain industry.

In addition, developers can also take advantage of the infrastructure and support from the project's ecosystem, including Viction (formerly TomoChain). This is the first layer 1 blockchain in Vietnam, allowing transactions with high security features. Ninety Eight said Viction will provide optimal conditions for projects to expand their reach and maximize their chances of success.

In the announcement, Ninety Eight revealed that it will support many startups in the industry to leverage C98 to create innovative and impactful solutions from the $25 million fund.

In addition, the new fund is deployed and managed by Arche Fund - Ninety Eight's investment unit. Arche Fund will be responsible for monitoring and closely collaborating with the selected platforms to maximize their potential. In addition, this unit will provide many essential programs, resources and networks for startups. Furthermore, Ninety Eight also leverages the potential of these platforms through the project's upcoming Launchpad, Starship.

"Ninety Eight believes that by supporting talented developers and providing them with the necessary resources, the adoption of Web3 will be accelerated," said Thanh Le, CEO of Ninety Eight.

Previously, after 6 years of being associated with the name Coin98 Finance, on November 1, the development team decided to change the brand to Ninety Eight. In the coming time, Ninety Eight will build an ecosystem of technology startups around the world , thereby taking advantage of talent and popularizing Web3 to the public.

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