DJ Venom Foundation in Partnership With Iceberg Capital Launches USD1 Billion Venom Ventures Fund
Chainwire Venom Foundation in Partnership With Iceberg Capital Launches USD1 Billion Venom Ventures Fund 13-Jan-2023 / 14:13 GMT/BST
-----------------------------------------------------------------------------------------------------------------------
Abu Dhabi, 13 January 2023 Venom Foundation, the first Layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM), and Iceberg Capital, an ADGM regulated investment manager, officially announce that they have partnered to launch a USD1 billion venture fund called Venom Ventures Fund (VVF).
The blockchain-agnostic fund will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi. It aims to become the leading supporter of the next-generation digital technologies and entrepreneurs.
Venom Ventures Fund (VVF) will leverage Iceberg Capital's network, expertise, and capabilities to offer incubation programs and access to an extensive industry network. Furthermore, it 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. It will strive to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors.
Mustafa Kheriba, the Executive Chairman of Iceberg Capital, said "We are thrilled to partner with Venom Foundation, launching their new USD1 billion fund. Even though the blockchain industry is witnessing a steep correction in prices, we believe that builders will continue to build and innovate. With Venom Ventures, we will be providing financial, technical, and marketing support to the most promising teams and projects in Web3 space to help them bring their visions to life."
The 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, Venom Ventures Fund (VVF) will be transparent and will adhere to the regulations.
Peter Knez, Chairman 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 talented people from the crypto industry, and we are ready to allocate strategic investments in the most innovative web3 start-ups that are poised for mass adoption. Our mission is to transform digital asset management and make a lasting impact on the industry. Venom is the ideal platform for us to achieve this goal."
Venom Ventures Fund (VVF) leads the USD20 million funding in Nümi Metaverse
The fund has made its first investment, leading Nümi Metaverse's USD20 million funding round. Nümi Metaverse is a universal platform for creators, innovators, and followers. Nümi will launch its 'Visual Novel' in 2023, a mini-game experience with a range of special prizes for players.
Nümi will also launch VR metaverse by the end of this year, followed by a PC and mobile version in 2024. The Nümi 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 regulated by FSRA as a Prudential Category 3C investment manager based in ADGM. Iceberg Capital is a fast-growing alternative asset management company that provides diversified investment management platforms that includes direct and private equity, venture capital, technology, and virtual assets. Iceberg Capital also offers traditional asset management services such as investment portfolios in local and international markets, financial instruments (equities, ETFs, commodities, derivatives, etc), as well as specialized platforms for securities, and blockchain technology.
For more information about Iceberg Capital, visit: Website | LinkedIn About Venom Foundation
Venom is the world's first regulated blockchain. The decentralized network operates under the jurisdiction of the ADGM, with a license to issue utility tokens. The ADGM is an oasis for investors and financial services firms, positioning Venom as the world's first compliant blockchain, affording authorities and enterprises 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 harbors the potential to become a bridge for the adoption of CBDCs in the Middle East, North Africa, and worldwide.
For media inquiries, please contact: Adam Newton, pr@venom.ventures
For more information about Venom Ventures, visit: Website | Twitter
For more information about Venom Foundation, visit: Website | Twitter
-----------------------------------------------------------------------------------------------------------------------
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
End of Announcement - EQS News Service
1535171 13-Jan-2023
Image link: https%3a%2f%2flh3.googleusercontent.com%2fSMMfANAckb6O5mofJ75Ebadqzhj_6Nryog3G-lGjWAYKfrIBm0miLfYYbRqPXp00Tqsm8kGOd8pC110NuX3Xyjo9iQJkoPXD3LS9THCbGtULVdiQ7NPPNavCPwwwordRfISTFe4CqEWo7hP3h2C84qYscvgVIwJ15NqL35VboBBVQQYw5PRIQNGQ2tzqyQ
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1535171&application_name=news
(END) Dow Jones Newswires
January 13, 2023 09:13 ET (14:13 GMT)
