Odaily Translator |

Odaily Translator |

Venom Foundation, the first Layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM), announced a partnership with Iceberg Capital, an investment management firm also regulated by ADGM, to launch a $1 billion crypto Venom Ventures Fund (VVF), a venture capital fund, will invest in innovative protocols and Web3 companies that use blockchain technology to solve real-world problems, focusing on payment, asset management, DeFi, banking services, and GameFi. A generation of digital technology and entrepreneurs are supported.

Abu Dhabi Global Market (ADGM) is one of the most well-known international financial centers and free zones, providing market participants with a world-class legal system and regulatory system, Venom Ventures Fund (VVF) is established and operated by ADGM regulated entities , will remain transparent and compliant at all times. Currently, the Venom Foundation has obtained a license to issue utility tokens, mainly helping corporate customers build Dapps and encryption protocols on the Venom blockchain. Iceberg Capital Limited is a fast-growing alternative asset management company that provides a diversified investment management platform, including private equity, venture capital, technology and virtual asset investments. Iceberg Capital also provides traditional asset management services involving investment portfolios in local and international markets, financial instruments (stocks, ETFs, commodities, derivatives, etc.), as well as professional platform support for securities and blockchain technology.

Venom Ventures Fund will leverage Iceberg Capital's network, expertise and capabilities to deliver startup incubation programs and assist funded projects with marketing, exchange token listings, technical, legal and regulatory support. The leadership team of the fund is composed of a group of experienced traditional finance and blockchain professionals, including Peter Knez, former CIO of BlackRock (BlackRock), and Mustafa Kheriba, a well-known investment expert, who has worked in several countries in the Middle East and Europe. Financial services and insurance company board positions.

Venom Ventures Fund also led the latest $20 million funding round in Nümi Metaverse, a universal platform for creators, innovators, and fans, notably its first investment. It is reported that Nümi will launch its first mini-game "'Visual Novel" in 2023, and launch the VR metaverse at the end of the year, followed by PC and mobile versions in 2024. In fact, this investment in Nümi demonstrates the efficient investment strategy of the Venom Ventures Fund - any developer and builder committed to an innovative Web3 project can apply for funding support on the Venom Ventures Fund website by invitation.

At this stage, VVF Fund is operated by Iceberg Capital, focusing on investing in projects and teams from pre-seed to A-round stage, while striving to accelerate the popularization and adoption of blockchain, DeFi and Web3, and create long-term value for investors. Mustafa Kheriba, Executive Chairman of Iceberg Capital, said:

“We are delighted to launch this $1 billion crypto fund in partnership with the Venom Foundation. While the crypto market is currently undergoing a major correction, we believe builders will continue to drive growth and innovation in the market. Through Venom Ventures, we will Provide financial, technical and marketing support to the most promising teams and projects in the Web3 space to help them turn their visions into reality."

Peter Knez, chairman of Venom Ventures Fund, concluded: