BitRock Capital’s new fund plans to raise $100 million, with investment directions including Web3 and other fields

On March 22, Alfred Shang, CEO and co founding partner of BitRock Capital, said in an interview that with the support of logistics real estate operator GLP Pte, BitRock Capital aims to close new funds in the third quarter and intends to raise $100 million. The new fund will target software as a service and digital opportunities in China, financial technology companies in Southeast Asia, and global startups in the fields of digital asset infrastructure and Web3.

Interpretation of this information:

BitRock Capital, a venture capital firm, is aiming to close new funds in the third quarter with the support of logistics real estate operator, GLP Pte. The firm intends to raise $100 million which will be used to target software as a service and digital opportunities in China, financial technology companies in Southeast Asia, and global startups in the fields of digital asset infrastructure and Web3.

This news is indicative of the continued growth and investment opportunities in the technology industry, particularly in emerging markets such as China and Southeast Asia. BitRock Capital is specifically targeting software as a service and digital opportunities in China, which is unsurprising considering that the government released a plan in 2015 to develop the country’s software and information technology services. The government has also encouraged the implementation of cloud computing technology, which is a key component of software as a service.

BitRock Capital’s focus on financial technology companies in Southeast Asia seems to be a smart move as well, given the region’s recent push for modernization and digitalization. Cross-border payment systems and mobile banking have seen significant growth in the region, with countries such as Thailand and Vietnam implementing digital payment systems in government services. This trend is likely to continue, creating potential investment opportunities for firms like BitRock Capital.

Lastly, BitRock Capital’s interest in global startups in the fields of digital asset infrastructure and Web3 is further evidence of the growing importance of blockchain technology and its potential to disrupt various industries. Digital asset infrastructure and Web3 refer to the underlying technology that supports the use of cryptocurrencies and their applications, which has seen increased adoption in recent years.

Overall, BitRock Capital’s plans to raise $100 million to invest in software as a service, financial technology companies in Southeast Asia, and global startups in the fields of digital asset infrastructure and Web3 demonstrate the continued growth and potential investment opportunities in the technology industry.