Abu Dhabi, Abu Dhabi 11th January 2023, ChainwireVenom Foundation (the first Layer-1 blockchain licensed by the Abu Dhabi Global Market and regulated under ADGM regulations) and Iceberg Capital (an ADGM regulated investment manager) officially announce their partnership to launch Venom Ventures Fund (VVF), a $1 billion venture capital fund.
The fund, which is blockchain-agnostic, will invest in innovative protocols, Web3 dApps, and will focus on long-term trends like payments, asset management and DeFi. It seeks to be the most prominent supporter of the next-generation of digital technologies and entrepreneurs.
Venom Ventures Fund (VVF), will use Iceberg Capital’s expertise, network, and capabilities to offer incubation programmes and access to a large industry network. It will also assist investee projects in marketing, exchange listing and technical support.
The fund’s leadership team includes some of the most experienced traditional finance professionals and blockchain professionals in the world, including Peter Knez, ex BlackRock CIO, and Mustafa Kheriba (a seasoned and well-known professional in investment with a strong track record in the MENA area). Mustafa is a member of the Board of Directors for several insurance and financial companies in Europe and the Middle-east.
The fund is managed by Iceberg Capital and will invest in projects and teams, from pre-seed to Series B rounds. It will work to accelerate the adoption and use of Web3, DeFi, Blockchain, and Web3 while creating long-term value.
Mustafa Kheriba is the Executive Chairman of Iceberg Capital. He stated, “We are thrilled that we have partnered with Venom Foundation to launch their new $1 billion fund. Despite the steep price correction in the blockchain industry, we believe that builders will continue building and innovating. Venom Ventures will provide financial, technical, marketing, and technical support to the most promising projects and teams in Web3 space to help bring their visions to reality.
The Abu Dhabi Global Market (ADGM), an international financial centre and free zone, provides market participants with a world class legal system and regulatory regime. Venom Ventures Fund (VVF), which was established and operated by ADGM-regulated entities, will be transparent and adhere to the regulations.
Peter Knez, Chairman at Venom Ventures, stated, “I am delighted that I was able to be part of the launch our new Venture Capital fund here, Abu Dhabi. I am excited to collaborate with an experienced team of investment professionals and talented people in the crypto industry. We are ready to make strategic investments in the most innovative web3 startups that are poised to become mass-adopted. Our mission is to change digital asset management and have a lasting impact on this industry. Venom is the perfect platform to help us achieve this goal.
Venom Ventures Fund (VVF), is the lead for the $20 million funding in Numi Metaverse
The fund made its first investment, which led to Numi Metaverse’s $20 Million funding round. Numi Metaverse is a platform that connects creators, innovators, followers and all other people. Numi’s ‘Visual Novel’ will be launched in 2023. It is a mini-game that offers a variety of prizes to players.
Numi will also launch VR metaverse in the second half of this year. A PC and mobile version will follow in 2024. The Numi investment demonstrates the fund’s investment strategy. Developers and builders who are working on innovative Web3 projects can apply for funding via the Venom Ventures Fund site.
About Iceberg Capital
FSRA has regulated Iceberg Capital Limited as a Prudential 3C investment manager based at ADGM. Iceberg Capital is an alternative asset management company. It offers diversified investment management platforms, including venture capital, direct and private equity, venture capitalism, technology, and virtual assets. Iceberg Capital offers traditional asset management services, including investment portfolios in local or international markets, financial instruments (equities and ETFs), commodities, derivatives, as well as specialized platforms to support securities and blockchain technology.
About Venom Foundation
Venom is the first regulated blockchain in the world. The ADGM oversees the decentralized network and has the license to issue utility tokens. The ADGM is a haven for investors and financial service firms. Venom is the first compliant blockchain in the world, allowing authorities and enterprises to build, innovate and scale.
Various companies have created a portfolio of Venom blockchain-based dApps. It has the potential to be a bridge for CBDC adoption in the Middle East, North Africa and elsewhere.
For more information about Venom Foundation, visit: Website | TwitterContactAdam [email protected]