Amber Eco Fund celebrates its first anniversary, actively fostering the Web3 ecosystem through strategic investments in key Web3 sectors and support of high-potential firms such as Memeland, PADO Labs, and RockX.
SINGAPORE, Dec. 22, 2023 - Amber Group, a leading global digital asset company, marked the first anniversary of the Amber Eco Fund, its first venture fund launched in October 2022 to provide early-stage support for Web3 ventures.
Anchored by a sovereign wealth fund and prominent family offices across Asia Pacific, the Amber Eco Fund is dedicated to fostering the growth of the Web3 ecosystem and empowering visionary founders globally. In its first year of operations, the Fund has already made meaningful progress toward its goal by strategically investing in core sectors of Web3, including infrastructure, gaming, DeFi and social networks. Notable investments include 0xScope, Memeland, PADO Labs, Starkware, and RockX, all of which have demonstrated tremendous growth and achievements with the support of the Fund.
Memeland, a Web3 venture studio by Web2 mainstay 9GAG, has achieved early success with its meme-themed NFT collections, generating significant revenue from a large community of over 2.6 million fans on X. PADO Labs, a zkAttestation protocol dedicated to bringing Web2 data into Web3 smart contracts via cryptography, was selected for the prestigious Consensys Fellowship Program in recognition of its innovative efforts advancing the frontiers of Web3 technology. RockX, one of Asia's leading institutional-graded staking platforms, has seen its staking AUM pass $ 1 billion and its liquid staking product Bedrock achieve over $30 million within three months of launch.
"Amber Group's full support and trust has raised the confidence and capacity for RockX to lead institutional staking in Asia. With Amber Eco Fund, we are confident the team will continuously innovate and decentralize for staking to be an inclusive asset class in the financial ecosystem." Zhuling Chen, Founder and CEO, RockX.
"Over the past year, the Amber Eco Fund has taken critical steps in our mission to support Web3 founders," said Annabelle Huang, Managing Partner at Amber Group. "It's rewarding to see the early success of startups like RockX and PADO Labs that we've backed. As an industry leader, Amber Group remains committed to empowering builders through strategic investing and resources from our Eco Fund. We aim to fuel the groundbreaking projects that will drive blockchain adoption and shape the future of digital assets."
Amber Group takes a holistic approach to supporting innovative startups through its Amber Eco Fund and research body Amber Labs. Amber Labs aims to maximize the impact of each investment by leveraging its extensive analysis of industry trends and technologies. Amber Group is then able to provide portfolio companies liquidity provisioning support, access to global talent and partnerships to equip them with necessary tools for success in today's rapidly evolving crypto landscape. For the latest industry insights, subscribe to Amber Labs' research newsletter at https://amberlabs.substack.com.
About Amber Group
Amber Group is a leading crypto finance services provider, specializing in digital wealth management and crypto-native liquidity solutions. The firm offers a comprehensive range of digital asset services, spanning liquidity provisioning, trading, financing, and investing. It is backed by prominent investors, including Fenbushi Capital US, Sequoia, Paradigm, Tiger Global, Dragonfly, Pantera, Coinbase Ventures, and Blockchain.com.
SOURCE Amber Group
