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AppWorks Closes $165 Million Fund IV to Target AI and Web3 Startups

On Jan. 7, AppWorks announced its $165 million Fund IV close, targeting AI, Web3, and digital economy ventures across Asia with support from sovereign investors.

Summary

On January 7, AppWorks completed fundraising for its fourth Asia startup fund at $165 million, focusing on entrepreneurs in artificial intelligence, Web3, and the wider digital economy. The close brings total assets to $386 million, with backing from pan-Asia sovereign limited partners. The fund aims to invest in early-stage ventures across emerging Asian markets, emphasizing transformative technologies.

Terms & Concepts
  • Web3: A vision for a decentralized internet powered by blockchain technology, enabling user-owned platforms and digital assets.
  • Limited Partner (LP): An investor in a venture capital or private equity fund who provides capital but has limited involvement in day-to-day operations.
  • Artificial Intelligence (AI): The simulation of human intelligence processes by machines, particularly computer systems, for tasks such as learning and problem-solving.