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

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

Ninety Eight, an ecosystem of Web3 innovative companies, is excited to announce the launch of a $25 million Ecosystem Fund. This fund represents our commitment to empowering builders in the Web3 space and marks an important milestone following our rebranding from Coin98 Finance. With a focus on Asia, where we have strong roots, our primary goal is to foster the growth and development of Web3 startups in the region.

The Ninety Eight Ecosystem Fund aims to address the specific needs and challenges faced by builders in the rapidly evolving Web3 landscape. We provide both financial and strategic support to selected startups, working closely with them to offer guidance and access to our extensive network of industry partners. Our team of experienced professionals is dedicated to helping startups thrive and succeed.

Moreover, builders can leverage our infrastructure and tap into the support of our ecosystem. Anchored in this ecosystem is Viction, formerly Tomochain, a layer-1 blockchain that offers zero-gas transactions and advanced security features. Designed to onboard users effectively, Viction provides the optimal conditions for projects to expand their reach and maximize their chances of success.

One of the key aspects of the Ecosystem Fund is to encourage the utilization of our native token, $C98. Originally designed as a wallet token, $C98 has evolved into a powerful tool for driving Web3 innovation. With its open use case, $C98 has the potential to revolutionize the way Web3 applications are built, deployed, and utilized. Through the Ecosystem Fund, we seek to support startups that can leverage $C98 to create innovative and impactful solutions.

To ensure the efficient deployment of the Ecosystem Fund, we have entrusted Arche Fund, a venture arm within the Ninety Eight ecosystem, with its management. Arche Fund will be responsible for overseeing the fund and working closely with selected startups to maximize their potential. Arche goes beyond offering value-added programs, equipping our partners with essential tools, resources, and networks. By  fueling their progressive vision, we empower our partners to bring their goals to life.

Looking ahead to the future, we are determined to leverage the potential of startups through our upcoming launchpad - Starship. Our goal is to foster the growth of high-quality Web3 startups and provide them with unparalleled investment opportunities.

“Our path forward is guided by one principle - we are builders backing builders. Thanks to the incredible community that has brought us to where we are today, we are determined to give back,”  said Thanh Le, CEO of Ninety Eight. “We believe that by supporting talented builders and providing them with the necessary resources, we can drive the adoption of Web3 technologies and shape the future of the decentralized internet."

Startups interested in applying for funding through the Ninety Eight Ecosystem Fund can submit their applications via Arche Fund's submission form. We are excited to receive applications and look forward to supporting innovative Web3 startups in Asia.