Januar 14

$1 Billion Venom Ventures Fund Launched to Accelerate Web3 Revolution

• Venom Foundation and Iceberg Capital have partnered to launch a $1 billion venture fund called Venom Ventures Fund (VVF).
• The blockchain-agnostic fund will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.
• The fund’s leadership team consists of experienced traditional finance and blockchain professionals, and is managed by Iceberg Capital who will offer incubation programs, access to an extensive industry network, and support services.

The Abu Dhabi based blockchain, Venom Foundation, and the Abu Dhabi Global Market (ADGM) regulated investment manager, Iceberg Capital, have announced their official partnership to launch a $1 billion venture fund named Venom Ventures Fund (VVF). The fund is blockchain-agnostic, meaning it will invest in innovative protocols and Web3 decentralized applications (dApps) regardless of the underlying blockchain technology.

The newly formed fund will focus on long-term trends such as payments, asset management, DeFi, banking services, and GameFi, and will strive to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors. The fund’s leadership team consists of some of the world’s most experienced traditional finance and blockchain professionals, including Peter Knez, ex-CIO at BlackRock, and Mustafa Kheriba, a seasoned and well-known investment professional with an impressive track record in the MENA region.

Operated by Iceberg Capital, the fund will be investing in projects and teams from pre-seed to Series A rounds. Furthermore, it will assist the investee projects with marketing, exchange listing, technical, legal, and regulatory support. The fund will also leverage Iceberg Capital’s network, expertise, and capabilities to offer incubation programs and access to an extensive industry network.

Mustafa Kheriba, the Executive Chairman of Iceberg Capital, commented “We are thrilled to be partnering with the Venom Foundation to launch the Venom Ventures Fund. We believe that this fund will become a leading supporter of the next-generation digital technologies and entrepreneurs, and will play an important role in driving the blockchain and Web3 revolution forward.”

The Venom Ventures Fund is an exciting new development in the world of blockchain and Web3, and it is sure to have a positive impact on the industry. With experienced professionals at the helm, and the backing of two industry-leading companies, the fund is in a great position to achieve its goals and make a lasting mark.



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Veröffentlicht14. Januar 2023 von admin in Kategorie "Allgemein