• Chainwire Venom Foundation and Iceberg Capital have partnered to launch a $1 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.
• VVF will leverage Iceberg Capital’s network, expertise, and capabilities to offer incubation programs, access to an extensive industry network, and marketing, exchange listing, technical, legal, and regulatory support.
The Abu Dhabi Global Market (ADGM) has licensed and regulated the first Layer-1 blockchain, Chainwire Venom Foundation, and an ADGM regulated investment manager, Iceberg Capital, have partnered to launch a $1 billion venture fund called Venom Ventures Fund (VVF). The VVF is a blockchain-agnostic fund which will focus on investing in innovative protocols and Web3 dApps, with a focus on long-term trends such as payments, asset management, Decentralized Finance (DeFi), banking services, and GameFi.
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.
The primary objective of the Venom Ventures Fund (VVF) is to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors. Operated by Iceberg Capital, the fund will be investing in projects and teams from pre-seed to Series A rounds. Furthermore, the fund will leverage Iceberg Capital’s network, expertise, and capabilities to offer incubation programs and access to an extensive industry network.
The VVF also plans to offer a comprehensive suite of services to investee projects, including marketing support, exchange listing support, technical support, legal support, and regulatory support. The Venom Foundation and Iceberg Capital will be working together to make sure that projects receive the guidance and support necessary to succeed and reach their potential.
The Venom Ventures Fund will be a major milestone for the blockchain and Web3 space, as it will provide the necessary resources and support to projects that are advancing blockchain and DeFi technology. It is a highly ambitious venture that will no doubt have a significant impact on the blockchain space and help to bring the world closer to a decentralized future.