ARC Set to Launch Crypto Incubator with $4.5 Million Raise

ARC, a blockchain-based community, has raised $4.5 million to launch a crypto incubator, aiming to become a Y Combinator equivalent for the Web3 world. ARC, which boasts over 850 members, plans to leverage its network to support ambitious Web2 brands and Web3 projects in Asia. The Singapore-based company will adopt Y Combinator’s model for project incubation, go-to-market strategies, and funding. The funds raised will be used to enhance ARC’s ecosystem by offering dedicated support for new Web3 projects, forming strategic partnerships, and streamlining the process from concept to market launch. ARC believes its community-driven approach sets a new standard for launching projects and ventures in the crypto space. The $4.5 million funding was contributed by 163 members, with Arcane Group leading the investment. Notable participants include Adrian Lai of The Newman Group and Arthur Cheong of Defiance Capital. ARC was established in 2022 by CEO Elroy Cheo and business leader Kiat Lim.