GOVERNMENT SUPPORT

In 2021, the Shenzhen Municipal Government Investment Fund, the Futian District Guidance Investment Fund, along with QF Venture Capital (one of China’s top 6 VC institutions) invested into New Web Mining. The Shenzhen Municipal Government Investment Fund (worth over $15 billion USD) ranks first amongst all of China’s municipal funds. The Futian District Guidance Investment Fund ranks second amongst all of China’s district-level funds. QF Venture Capital, established in 2013, is a coveted VC firm in China and has early investments in successful companies such as GSX Techedu (a leading K-12 online tutoring service in China, NYSE:GSX), Pop Mart  (a toy maker company, SEHK:09992), 8BTC.com (China’s most-reputable crypto and blockchain media outlet), Coin World (bishije.com, China’s top crypto-media APP), and Ren Ren Mine (one of the world’s top three Filecoin-mining company by storage capability).