Blockchain platform based in Abu Dhabi Venom Foundation investment manager iceberg capital has revealed a $1 billion venture fund focused on blockchain and Web3 companies.
The news was shared on Twitter by the Foundation on Wednesday.
Its website states that venture capital funds are backing early-stage Web3 decentralized applications (dapps) and protocols, prioritizing those that focus on long-term trends. These trends include payments, wealth management, banking services and GameFi, the company said.
Venom added that investment is not strictly reserved for the Venom blockchain project. Anyone using Layer 1 (L1) as their primary blockchain and “achieving strong traction” is eligible and “could lead the next round of investment,” Venom said. Foundation.
“Our incubator allocates capital to early-stage projects prioritizing projects that demonstrate the potential to drive large-scale adoption and have short-term profitability and sustainable business prospects.”
The website further states that Venom Ventures Fund is managed by Iceberg Capital Limited, an alternative asset management firm that offers a diversified investment management platform for direct investments, private equity, venture capital, technology and virtual assets. It has been.
Iceberg Capital financial services regulator (FSRA) as a Prudential Category 3C Investment Manager based in Abu Dhabi Global Markets (ADGM).
Venom Ventures Fund Led by Former Chief Investment Officer of Asset Management Giant black rockPeter Knez, currently Chairman of the Foundation, and Mustafa Kheriva, director of several family offices and long-term investment expert in the Middle East and North Africa region.
According to the website,
“Venom Ventures will also work with projects on token launch strategies, tokenomics and marketing campaigns to ensure projects comply with necessary licensing and regulatory requirements.”
Knez reportedly told TechCrunch:
In addition to revealing the fund, the foundation announced major digital world-focused investments Numi Metaverseis a $20 million funding round, Reuters reported.
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