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Home»Cryptocurrency»Iceberg Capital Launches $1 Billion Fund with Venom Foundation
Cryptocurrency

Iceberg Capital Launches $1 Billion Fund with Venom Foundation

cryptossorBy cryptossorOcak 11, 2023Yorum yapılmamış4 Mins Read
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The Venom Foundation and Iceberg Capital have launched the $1 billion Venom Ventures Fund to invest in innovative Web3 companies.

Venom Foundation, the first Layer-1 blockchain licensed and regulated by Abu Dhabi Global Market (ADGM), and Iceberg Capital, an investment manager regulated by ADGM, have officially announced that they have partnered to launch a $1 billion venture fund called Venom Ventures Fund (VVF). The fund will focus on innovative Web3 companies using blockchain technology.

Venom Foundation and Iceberg Capital on Stage with $1 Billion Funding

Venom Foundation and Iceberg Capital are on the scene with their jointly created Venom Ventures Fund (VVF).

Independent of blockchain technology, the fund will invest in innovative protocols and DApps with a focus on long-term trends such as payments, wealth management, DeFi, banking services and GameFi. The partnership aims to be a leading supporter of new generation digital technologies and entrepreneurs.

Venom Ventures Fund (VVF) will leverage Iceberg Capital’s network, expertise and capabilities to deliver incubation programs and provide access to an extensive industry network. It will also assist invested projects in marketing, stock listing, technical, legal and regulatory support.

Venom Ventures Fund Has a Strong Structure

The fund’s leadership team is comprised of some of the world’s most experienced traditional finance and blockchain professionals, including Peter Knez, former CIO of BlackRock, and Mustafa Kheriba, a seasoned and recognized investment expert with an impressive background in the MENA region. Mustafa has served on the Boards of various financial services and insurance companies in the Middle East and Europe.

Run by Iceberg Capital, the fund will invest in projects and teams from pre-seed to Series A rounds. It will seek to accelerate the adoption of blockchain, DeFi, and Web3, while generating long-term value for investors.

Making statements on the subject, Mustafa Kheriba said;

“We are excited to partner with the Venom Foundation and launch their new $1 billion fund. While the blockchain industry is witnessing a drastic correction in prices, we believe builders will continue to build and innovate. With Venom Ventures, we will provide financial, technical and marketing support to the most promising teams and projects in Web3 to help them bring their visions to life.”

Abu Dhabi Global Market (ADGM), the regulator of organizations, provides its participants with a world-class legal and regulatory system. ADGM stands out as an international financial center and free zone. This fund, created by the organizations regulated by ADGM, will be transparent and adhere to the regulations.

Peter Knez, Chairman of Venom Ventures, who shared his views on the subject, said;

“I am delighted to be a part of the launch of our new Venture Capital fund 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 to the most innovative Web3 start-ups ready 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 Leads $20M Funding to Numi Metaverse

Venom Ventures Fund (VVF) has completed its initial investment, leading Numi Metaverse’s $20 million funding round. Nümi Metaverse, a universal platform for creators, innovators and followers, has received strong support from VVF.

Numi Metaverse plans to release Visual Novel in 2023, a mini-game experience for players that includes a series of special rewards. The project will also release the VR metaverse by the end of this year, and a PC and mobile version in 2024. Numi investment also opened the door to the investment strategy of the fund.

What is Venom Foundation and Iceberg Capital?

Venom Foundation stands out as the world’s first regulated blockchain. The decentralized network operates under the jurisdiction of Abu Dhabi Global Market (ADGM) and license to issue service tokens. ADGM holds potential for investors and financial services and has positioned Venom as the world’s first compatible blockchain. This positioning gives authorities and businesses the freedom to build, innovate and scale.

A portfolio of in-house DApps and protocols has been developed by various companies on the Venom blockchain. It currently embodies the goal of being a bridge to the adoption of CBDCs around the world.

On the other hand, Iceberg Capital has attracted attention as a rapidly growing alternative asset management company. Iceberg Capital encompasses a very broad spectrum. This spectrum stands out as traditional asset management, securities and blockchain technology. Iceberg Capital is also regulated as an ADGM-based investment manager.

Blockchain Finance Fund Investment Venom
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