L2 Capital Collaborates with Google to Accelerate Portfolio Companies' Business Growth and Advance Its Web3 Investment Strategy

HONG KONG,Oct. 12,2022 -- L2 Capital Management ("L2 Capital"),a multi-strategy asset management firm,today announced that it has entered into a collaboration with Google to accelerate the sustainable growth of its portfolio companies. The collaboration is also set to advance L2 Capital's strategy for investing in and contributing to various Web3 and blockchain ecosystems.

Web3 is often described as the "next phase of the internet" in which data is stored and secured in a decentralized way. While the world is still in the relatively early stages of embracing Web3,it is a market that is already demonstrating innovation and value creation for consumers and businesses. L2 Capital aims to empower growth for founders and investors alike,especially those who are actively exploring Web3 related use cases and opportunities.

The collaboration encompasses three pillars:

Accelerating business growth:L2 Capital's portfolio companies can leverage Google's digital skills training programs and digital marketing tools to increase brand awareness and improve customer engagement,thereby helping them to meet key business milestones that are prerequisites for future rounds of fundraising. To help them scale their businesses further and better serve their users using Google Cloud's open,developer-friendly,secure,and carbon neutral cloud infrastructure and services,each eligible portfolio company can potentially receive up to US$200,000 in cloud computing credits and dedicated support from Google engineers.

Strategic executive advisory:L2 Capital's portfolio companies will have opportunities to receive strategic and collective guidance from L2 Capital and Google's business executives,and tap both organizations' networks of industry partners to offer their products and services,where relevant.

Web3 focused insights and events: L2 Capital and Google Cloud plan to co-organize developer workshops or hackathons that L2 Capital's portfolio companies can partake in to advance their adoption of Web3 and blockchain technologies. In addition,L2 Capital's investment team aims to work with Google Cloud's Digital Assets team to combine industry knowledge,experience,and analytics capabilities to inform the former's Web3 investment thesis and release public-facing insights that can benefit the broader Web3 and blockchain community.

"As one of the few organizations across venture capital,private equity,and public markets that's doubling down on supporting the adoption of Web3 and blockchain technologies,we are privileged to be collaborating with Google. Our mission is to empower founders with the resources they need to scale and realize their vision. With infrastructure and services from Google Cloud,and analytics and digital marketing support from Google,our portfolio companies can accelerate growth and capitalize on new market opportunities," said Kevin Lee,Managing Partner of L2 Iterative Ventures,the Web3 investing arm ofL2 Capital.

"With a growing number of traditional firms and startups now looking to build,transact,store value,and deploy new products on blockchain-based platforms,Google Cloud can be the scalable,and sustainable platform of choice for Web3 companies and developers to grow their businesses and support their networks. We continue to build on our existing work in Web3 by collaborating with leading investment firms like L2 Capital," said Michael Langford,APAC Head of VC & Startup Ecosystem,Google Cloud.

About L2 Capital Management

L2 Capital is a global multi-strategy asset manager with a unique team of pioneers across Web3/Web2 enterprise builders,public and private market investors with a history of capital deployment and value creation. L2 Iterative Ventures is the Web3 arm of L2 Capital that aims to invest in foundational technologies with the potential of unlocking the future of blockchain and Web3 mainstream adoption. Our globally distributed team across Silicon Valley and Asia incubates technical founders and equips them with resources to scale from idea generation to category-defining companies.

For more information about L2 Capital,please visit http://www.l2capm.com.