In collaboration with Iceberg Capital, the Venom Foundation has launched the Venom Ventures Fund amounting to $1 billion.

On January 11, 2023, Chainwire reported from Abu Dhabi.

The Venom Foundation, being the first Layer-1 blockchain that is both licensed and regulated by the Abu Dhabi Global Market, has announced a partnership with Iceberg Capital, another regulated investment manager in the ADGM, to create a new venture fund valued at $1 billion, dubbed the Venom Ventures Fund (VVF). 

This fund is designed to be blockchain-agnostic, focusing its investments on groundbreaking protocols and decentralized applications within the Web3 ecosystem. The primary focus lies on long-term trends including payment solutions, asset management, decentralized finance, banking innovations, and GameFi, aiming to position itself as a frontrunner in supporting the future of digital technologies and entrepreneurs.

Venom Ventures Fund (VVF) will utilize the vast network, expertise, and resources of Iceberg Capital to provide not only funding but also incubation initiatives and access to a broad array of industry connections. In addition, it will extend support to the projects it backs in areas such as marketing strategy, exchange listings, as well as legal and regulatory guidance. 

The leadership team of the fund includes highly experienced professionals from both traditional finance and the blockchain sectors, such as Peter Knez, the former Chief Investment Officer at BlackRock, and Mustafa Kheriba, a recognized investment expert with a remarkable history of success in the field. MENA region Mustafa has been part of the Board of Directors for various financial organizations and insurance firms throughout the Middle East and Europe. financial services Managed by Iceberg Capital, this fund will focus its investments on teams and projects ranging from the very early stages up to Series A funding rounds. Its mission is to boost the growth and acceptance of blockchain technology, DeFi, and Web3, while also ensuring lasting value for its investors.

Mustafa Kheriba, who holds the position of Executive Chairman at Iceberg Capital, expressed his enthusiasm, stating, \"We are very excited to collaborate with Venom Foundation and kick off our new $1 billion fund. Despite the current downturn in the blockchain sector, we believe that innovators will keep creating and advancing. Through Venom Ventures, we're set to provide essential financial, technical, and marketing assistance to some of the most talented teams and projects, helping them turn their dreams into reality."

The Abu Dhabi Global Market (ADGM) serves as a premier business and free zone offering a sophisticated legal and regulatory framework for market entities. Web3 space Venom Ventures Fund (VVF), established and managed by ADGM regulated entities, emphasizes transparency and strict adherence to existing regulations. 

Peter Knez, the Chairman of Venom Ventures, remarked, \"I am thrilled to take part in launching our new venture fund here in Abu Dhabi. Collaborating with a skilled team of investment professionals and talented individuals from the crypto field excites me. We're geared to make strategic investments in the most pioneering web3 startups that are ready for widespread adoption, thereby leaving a significant mark on the industry. Venom provides the perfect platform for us to realize this ambition." international financial Venom Ventures Fund (VVF) has led an initial investment in the Nümi Metaverse with a $20 million funding effort.

This fund's inaugural investment focused on the Nümi Metaverse, which serves as a versatile platform for creators, innovators, and their audiences. Nümi is set to unveil its 'Visual Novel' later this year, offering players a mini-game packed with various exciting rewards. Venture Capital fund By the end of this year, Nümi intends to launch a VR metaverse, with plans for both PC and mobile versions to follow in 2024. This investment exemplifies the fund's approach to investment strategy, extending an invitation to developers engaged in pioneering Web3 projects to seek funding through this channel. Iceberg Capital Limited operates under the regulation of the FSRA as a Prudential Category 3C investment manager situated in Abu Dhabi Global Market. Iceberg Capital is an expanding alternative asset management firm that provides a diversified portfolio for investment management, covering areas such as direct and private equity, venture capital, and technology. . Our mission is to transform digital asset Additionally, Iceberg Capital provides standard asset management services, which include investment portfolios across both local and global markets, along with financial instruments like equities, ETFs, commodities, and derivatives, as well as specialized platforms for securities.

For further information on Iceberg Capital, please visit:

Venom is recognized as the first regulated blockchain globally. This decentralized framework functions within the jurisdiction of the ADGM, possessing the authorization to issue digital assets.

ADGM serves as a sanctuary for investors and firms operating in financial services, positioning Venom as the leading compliant blockchain, empowering both authorities and enterprises to innovate, develop, and expand. Venom Ventures Fund website .

About Iceberg Capital

Various enterprises have been engaged in developing an array of in-house decentralized applications and protocols on the Venom blockchain, which now holds the potential to function as a bridge for adopting Central Bank Digital Currencies (CBDCs) across the Middle East, North Africa, and beyond. virtual assets For more details about Venom Ventures, you can check: blockchain technology .

For additional information regarding the Venom Foundation, please visit: Website LinkedIn

About Venom Foundation

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