Venom Foundation, the first Layer-1 blockchain licensed and regulated by Abu Dhabi Global Market (ADGM), and Iceberg Capital, an investment manager regulated by ADGM, have officially announced that they have partnered to launch a $1 billion venture fund called Venom Ventures Fund.
The blockchain-agnostic fund will invest in innovative protocols and Web3 dApps with a focus on long-term trends such as payments, wealth management, DeFi, banking services and GameFi. Thus, the fund aims to be the leading supporter of new generation digital technologies and entrepreneurs.
Venom Ventures Fund (VVF) will use Iceberg Capital’s network, expertise and capabilities to offer incubation programs and access to an extensive industry network. It will also assist invested projects in marketing, stock quotes, technical, legal and regulatory support.
The fund’s leadership team consists of some of the world’s most experienced traditional finance and blockchain professionals; Including Peter Knez, former BlackRock CIO, and Mustafa Kheriba, a veteran and well-known investment expert with an impressive background in the MENA region.
Mustafa served on the Board of Directors of various financial services and insurance companies in the Middle East and Europe.
Run by Iceberg Capital, the fund will invest in projects and teams from the start-up to Series A rounds. It will seek to accelerate the adoption of blockchain, DeFi and Web3, while generating long-term value for investors.
Mustafa Kheriba, Chief Executive Officer of Iceberg Capital, said, “We are excited to partner with the Venom Foundation and launch their new $1 billion fund. While the blockchain industry is witnessing a sharp correction in prices, we believe builders will continue to build and innovate. With Venom Ventures, we will provide financial, technical and marketing support to the most promising teams and projects in Web3 to help them bring their visions to life.” said.
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. Established and operated by ADGM regulated entities, the Venom Ventures Fund (VVF) will be transparent and adhere to regulations.
Peter Knez, President of Venom Ventures, said: “I am delighted to be a part of the launch of our new Venture Capital fund here in Abu Dhabi. I am excited to work with a team of experienced investment professionals and cryptocurrency talent. We are ready to allocate strategic investments to the most innovative web3 startups ready for mass adoption. Our mission is to transform digital asset management and have a lasting impact on the industry. Venom is the ideal platform for us. achieve this goal.” said.
Venom Ventures Fund (VVF) Pioneers $20M in Financing in Numi Metaverse
The fund made its first investment by leading Numi Metaverse’s $20 million funding round. Numi Metaverse is a universal platform for innovators and followers. Nümi will release ‘Visual Novel’ in 2023, a mini-game experience that includes a series of exclusive rewards for players.
Numi will also release the VR metaverse by the end of this year, followed by the PC and mobile version in 2024. Numi investment showcases the fund’s investment strategy. Developers and builders working on innovative Web3 projects are invited to apply for funding through the Venom Ventures Fund website.
About Iceberg Capital
Iceberg Capital Limited is overseen by the FSRA as an ADGM-based Prudential Category 3C investment manager. Iceberg Capital is a fast-growing alternative asset management firm that provides diversified investment management platforms that include direct and private equity, venture capital, technology and virtual assets. Iceberg Capital also offers traditional asset management services such as investment portfolios, financial instruments (stocks, ETFs, commodities, derivatives, etc.) in local and international markets, as well as proprietary platforms and blockchain technology for securities.
For more information about Iceberg Capital, visit: Website | LinkedIn
About the Venom Foundation
Venom is the world’s first regulated blockchain. The decentralized network operates under the authority of ADGM with a license to issue service tokens. ADGM is an oasis for investors and financial services firms, positioning Venom as the world’s first compatible blockchain, giving authorities and businesses the freedom to build, innovate and scale.
A portfolio of in-house dApps and protocols has been developed on the Venom blockchain by various companies. It now has the potential to be a bridge for the adoption of CBDCs in the Middle East, North Africa and worldwide.
For more information about Venom Ventures, visit: Website | twitter
For more information about the Venom Foundation, visit: Website | twitter
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