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Polkadot Enhances Decentralization in Ecosystem Growth With the Launch of PolkaPort East in Hong Kong

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    HK, HK, June 5th, 2024, Chainwire

    Web3 Foundation, the entity supporting the growth of the Polkadot ecosystem, has awarded a grant to PolkaPort East. The Decentralized Futures (DF) grant is designed to help further decentralize Polkadot while spearheading technical, community, and broader ecosystem adoption.

    PolkaPort East is an independent entity leading investor relations and growth initiatives for Polkadot centered on Hong Kong and the Greater Bay Area. The DF grant from the Web3 Foundation is the first such award to be received by an organization working in Asia.

    The grant will support PolkaPort East’s goals of leading investor relations and growth for Polkadot in the region. Its mandate also includes promoting Polkadot and its technology, and acting as a key regional driver of capital into the ecosystem.

    Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a Polkadot-focused VC fund, said: “The launch of PolkaPort East comes at a crucial moment for Polkadot. It represents a critical step towards increasing the network’s decentralization while strengthening the ecosystem’s strategic position in Hong Kong. Thibault Perréard, also a co-founder who heads up strategy for Bifrost, a leading Polkadot parachain added: “With the support of the DF grant, PolkaPort East will be tapping into the thriving innovation hubs of Hong Kong and the Greater Bay Area while engaging and fostering relationships with local governments, global enterprises and capital allocators of the region.” 

    Vincent Chan, the third co-founder of PolkaPort East who formerly led growth initiatives at Parity Technologies, explained that following the receipt of the DF grant, the initiative will seek to attract participants to the Polkadot ecosystem across Asia. These include projects and developers looking to build on Polkadot, Polkadot-native VCs, funds, and capital allocators, as well as general web3 investors. It will also target Asian university blockchain collectives and associations, fintechs seeking to enter web3, and local government exploring the use of blockchain technology.

    Speaking on behalf of the Web3 Foundation, David Hawig, the Director of Ecosystem, stated “The Web3 Foundation is thrilled to support the Polkaport East initiative through a Decentralized Futures grant. This project exemplifies our commitment to fostering decentralized access and innovation within the Polkadot ecosystem. We believe Polkaport East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.”

    About Decentralized Futures 

    The DF initiative developed by Web3 Foundation is designed to kickstart independent teams and initiative that will drive Polkadot’s success. It was established in 2023 following the restructuring of Parity Technologies which offloaded responsibilities for investor relations, growth and marketing to focus solely on technical development.

    Through the DF program, funding is available for Polkadot-focused organizations that aim to generate profit, as well as for non-profits that have a strategy to secure ongoing financing through Polkadot’s onchain treasury system. An initial $20M plus 5M DOT tokens have been allocated to Decentralized Futures to expand the Polkadot ecosystem.

    About PolkaPort East

    Based in Hong Kong, PolkaPort East is an organization tasked with spurring adoption of the Polkadot ecosystem in Asia with a focus on Hong Kong and the Greater Bay Area. By working with different entities ranging from developers to investors, PolkaPort East will help to fuel adoption of web3 technology and onboard new users to Polkadot.

    Contact

    DIrector
    Thibault Perréard
    Polkaport East
    [email protected]

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    VCI Global Secures Additional US$30 Million Investment Commitment from Alumni Capital LP to Propel Its AI Cloud Computing Business Forward in Q2 2025

    2024-10-01T21:01:00Z

    KUALA LUMPUR, Malaysia, Oct. 01, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global” or the “Company”) today announced a new investment commitment of US$30 million from Alumni Capital LP (“Alumni Capital”). Following an earlier investment of US$5 million from Alumni Capital, this additional US$30 million, in exchange for VCI Global common shares, will reinforce VCI Global’s strategic push into its AI cloud computing business, particularly for its planned developments in the second quarter of 2025. VCI Global retains the right, but is not obligated, to draw on this amount, providing the Company with the flexibility to access the funds as needed, while preserving the option to forgo the drawdown if other resources become available or conditions change.

    With an approved capital infusion of US$30 million, VC AI Limited (“VC.AI”), a new subsidiary of VCI Global, will be launching the AI Computing Center (AICC) in Malaysia. This computing center, equipped with 512 NVIDIA H200 Tensor Core GPUs, is estimated to rank among the top 30 globally, enabling the efficient processing of vast amounts of data at high speeds—essential for generative AI and high-performance computing applications.

    “We are confident that this US$30 million investment from Alumni Capital will significantly empower our strategic growth in AI cloud computing. It enables us to establish a world-class AICC in Malaysia, serving clients globally, especially in Southeast Asia. We are fully committed to leveraging these resources to foster innovation and advance the AI landscape,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

    About VCI Global Limited

    VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.

    For more information on the Company, please log on to https://v-capital.co/. 

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

    CONTACT INFORMATION:

    For media queries, please contact:

    VCI Global Limited
    [email protected]


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