$1 Billion Venom Ventures Fund Launched to Accelerate Blockchain Adoption
• The Venom Foundation and Iceberg Capital have partnered 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.
• The fund’s leadership team consists of some of the world’s most experienced traditional finance and blockchain professionals.
The Abu Dhabi Global Market (ADGM) has recently licensed and regulated the first Layer-1 blockchain, the Venom Foundation. This marks a significant milestone in the blockchain and cryptocurrency industry, as the Venom Foundation is the first of its kind to be regulated by the ADGM. Today, the Venom Foundation is proud to announce that it has partnered with Iceberg Capital, an ADGM regulated investment manager, to launch a $1 billion venture fund called Venom Ventures Fund (VVF).
The blockchain-agnostic fund will focus on investing in innovative protocols and Web3 dApps, such as payments, asset management, DeFi, banking services, and GameFi, with a long-term view in mind. It aims to become the leading supporter of the next-generation digital technologies and entrepreneurs, and will leverage Iceberg Capital’s network, expertise, and capabilities to offer incubation programs and access to an extensive industry network. Furthermore, the fund will assist the investee projects with marketing, exchange listing, 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, ex-CIO at BlackRock and Mustafa Kheriba, a seasoned and well-known investment professional with an impressive track record in the MENA region. Mustafa has served on the Board of Directors of several financial services and insurance companies in the Middle-east and Europe. Operated by Iceberg Capital, the fund will be investing in projects and teams from pre-seed to Series A rounds.
Mustafa Kheriba, the Executive Chairman of Iceberg Capital, said „We are thrilled to launch Venom Ventures Fund. This fund is a major step forward in our mission to accelerate the adoption of blockchain technology and its use in the real world. We have a talented and experienced leadership team, and we are confident that the fund will become a major driver of innovation in the cryptocurrency space“.
The Venom Foundation is proud to be a part of this exciting venture, and looks forward to the future of this fund and its impact on the industry.