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News

Venom Foundation and Iceberg Capital partner to launch $1 billion venture fund

Gamepost
Gamepost Published January 11, 2023
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Venom Ventures Fund to invest in innovative protocols and Web3 dApps

Venom Foundation, the first Layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM), and Iceberg Capital, an ADGM regulated investment manager, have officially announced a partnership to launch a $1 billion venture fund called Venom Ventures Fund (VVF).

The fund will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi. It aims to become the leading supporter of the next-generation digital technologies and entrepreneurs.

Fund will leverage Iceberg Capital’s network, expertise, and capabilities

The fund will be operated by Iceberg Capital and will invest in projects and teams from pre-seed to Series A rounds. It will strive to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors.

The fund’s leadership team includes traditional finance and blockchain professionals, including Peter Knez, ex-CIO at BlackRock and Mustafa Kheriba, an investment professional with a strong track record in the MENA region.

Venom Ventures Fund to adhere to ADGM regulations

Established and operated by ADGM regulated entities, Venom Ventures Fund (VVF) will be transparent and will adhere to regulations. The Abu Dhabi Global Market (ADGM) is an international financial center and free zone that provides market participants with a world-class legal system and regulatory regime.

First Investment: Nümi Metaverse

The fund has made its first investment, leading Nümi Metaverse’s $20 million funding round. Nümi Metaverse is a universal platform for creators, innovators, and followers. Developers and builders working on innovative Web3 projects are invited to apply for funding through the Venom Ventures Fund website.

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TAGGED: Venom Foundation, Venture fund, web3
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