ARC, a Singapore-based community that’s making waves in the blockchain world, has just secured $4.5 million in funding, aiming to build a Web3 version of the Y Combinator model. With a thriving network of over 850 members, ARC is positioning itself as a major player in helping Web2 brands and Web3 projects take off in Asia.
The group, which functions as an NFT-gated community, has spent the last two years meticulously building an ecosystem filled with connections, expertise, developers, creators, and influencers. Elroy Cheo, CEO and co-founder of ARC, is clear about the group’s mission: to provide the comprehensive support necessary for ambitious projects to succeed.
Taking inspiration from Y Combinator—a well-known startup accelerator that has helped launch companies like Dropbox, Airbnb, and Stripe—ARC plans to adopt a similar approach. The goal is to offer project incubation, go-to-market strategies, and funding to promising Web3 ventures.
This fresh capital injection will be used to bolster ARC’s ecosystem, offering dedicated support to new Web3 projects and forming strategic partnerships to accelerate their development. The group aims to simplify the journey from concept to market launch, ensuring that projects have all the resources they need to thrive.
Cheo is passionate about the community-driven aspect of ARC. “It’s not just about having a great concept,” he explains. “We bet on people and assemble the right teams behind it. Unlike many other ecosystems, projects born in ARC have the power of a whole global community backing them.”
This approach of combining social coordination with access to capital and launch capabilities is what sets ARC apart. According to Cheo, the recent fundraising success is a testament to the effectiveness of their ecosystem. The $4.5 million raised was backed by 163 of ARC’s members, with significant contributions from the Venture Capital firm Arcane Group, as well as other key figures in the industry like Adrian Lai from The Newman Group, Arthur Cheong of Defiance Capital, and Germaine Jiang from Mask Network.
ARC’s co-founders, Elroy Cheo and Kiat Lim, a Singapore-based business leader, have built the organisation with the vision of setting a new standard for how Web3 projects are developed and launched. By integrating the power of a global community with the resources and support needed for success, ARC is creating a blueprint for the future of project incubation in the Web3 world.
As ARC continues to grow, its influence in the Web3 space is likely to expand. With a solid foundation, strong community backing, and a clear mission, the group is well on its way to becoming a key player in the blockchain industry, offering a new model for how innovative ideas can be turned into successful ventures.
