A New Breakthrough In the UAE Blockchain Venture Capital Space
Venom Ventures Fund (VVF) and Iceberg Capital have partnered to launch a $1-billion fund dedicated on blockchain investments
By Alex Belov •
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Launching out of Abu Dhabi, Venom Ventures Fund (VVF), the first ADGM licensed layer 1 blockchain foundation and Iceberg Capital, the ADGM regulated investment manager have partnered and announced the launch of their first venture capital fund dedicated on blockchain investments, Venom Ventures fund. Investments of up to $1 billion will be made by the fund, which is part of the Venom blockchain and managed by a group of industry heavyweights and blockchain specialists; including Peter Knez, ex-CIO at BlackRock and Mustafa Kheriba a seasoned and well-known investment professional with an impressive track record in the region, focused on investing in top-tier blockchain projects and WEB3.0 DApps, priming it to become a leading supporter of next-generation digital technologies.
The top executives at Venom and Iceberg see a win-win situation in investing in the most promising blockchain startups.
As a reminder, Venom blockchain is an outstanding blockchain protocol. It operates asynchronously and employs dynamic sharding, relying on adaptable nodes that can handle fluctuating traffic loads. This revolutionary improvement in blockchain technology provides greater security guarantees and infinite scalability.
The VC fund prioritizes WEB3.0 DApps and protocols that cater to long-term trends like payments, asset management, banking services, and GameFi in their early stages of development.
In addition to financial backing, the Venom Ventures Fund also offers an incubation program wherein vital resources like as a global network, exchange support, marketing, market making, technology, legal, and regulatory help, are made available.
The Venture team includes veterans of both the traditional and blockchain markets. Members of the team come from illustrious financial institutions like Blackrock and Iceberg Capital, and include both traders and VCs. The team has deep experience in the financial, risk management, trading, and venture capital markets, and they also have a solid grasp of the cryptocurrency market.
Peter Knez was overjoyed to announce the establishment of the fund in Abu Dhabi and the opportunity to invest in and foster the development of potential blockchain start-ups.
One of the fund's first investment is Nümi Metaverse, a global metaverse platform for innovators, leaders, and followers. They received a 20-million-dollar commitment from the Venom Ventures Fund. Their development team plans to release their "Visual Novel", a mini-game experience offering a variety of special awards for gamers in 2023.
Nümi Metaverse will also launch on virtual reality devices by the end of this year, then on personal computers and mobile devices in 2024. Nümi's investment is the first of many to come in the future quarters; fresh venture creators interested in applying can do so on the website of VVF.
