Venom Foundation and Iceberg Capital launch a billion dollar fund

The fund will invest in innovative Web3 companies that solve real-world problems using blockchain technology.

Venom Foundation, the first Level 1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM), and Iceberg Capital, an ADGM regulated investment manager, officially announce their partnership to launch the Venom Ventures Fund (VVF), valued at $1 billion.

The blockchain-oriented fund will invest in innovative protocols and Web DApps3, focusing on long-term trends such as payments, wealth management, DeFi, banking and GameFi. It aims to become the pillar of digital technologies and next generation entrepreneurs.

The Venom Ventures Fund (VVF) will leverage Iceberg Capital’s network, experience and expertise to provide incubation programs and access to an extensive industry network. In addition, he will assist funded projects by providing marketing, trading pricing, technical, legal and regulatory support.

The fund management team is made up of some of the most experienced traditional finance and blockchain professionals in the world; including Peter Knez, former CIO of BlackRock, and Mustafa Kheriba, an experienced and recognized investment professional with an impressive track record in the MENA region. Mustafa has served on the board of several financial services and insurance companies in the Middle East and Europe.

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

Mustafa Kheriba, executive chairman of Iceberg Capital, said: “We are delighted to partner with the Venom Foundation in the launch of their new billion dollar fund. Even as the blockchain industry is experiencing a major price correction, we believe developers will continue to build and innovate. Together with Venom Ventures, we will provide financial, technical and marketing support to the most promising teams and projects in the Web3 space to help bring their visions to life. »

The Abu Dhabi Global Market (ADGM) is an international financial center and free zone that offers market participants a world-class legal system and regulatory regime. Established and managed by entities regulated by ADGM, the Venom Ventures Fund (VVF) will be transparent and compliant with regulations.

Peter Knez, President of Venom Ventures, said: “I am delighted to be part of the launch of our new venture capital fund here in Abu Dhabi. I am excited to work with a team of seasoned investment professionals and talented individuals from across the cryptocurrency industry and are ready to allocate strategic investments in the most innovative Web3 startups that are on their way to mass adoption. Our mission is to transform digital asset management and have a lasting impact on the industry. Venom is the perfect platform for us to achieve this. »

The fund made its first investment by participating in Nümi Metaverse’s $20 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 number of special rewards for players.

Nümi will also launch a virtual reality (VR) metaverse later this year, followed by a PC and mobile version in 2024. The investment in Nümi illustrates the fund’s investment strategy. Developers and builders working on innovative Web3 projects are encouraged to apply for funding on the Venom Ventures Fund website.

About Iceberg Capital

Iceberg Capital Limited is regulated by the FSRA as a Prudential Grade 3C Investment Manager based in ADGM. Iceberg Capital is a fast-growing alternative asset management firm offering diversified investment management platforms including direct and private equity, venture capital, technology and virtual assets. Iceberg Capital also offers traditional wealth management services such as investment portfolios in local and international markets, financial instruments (stocks, ETFs, commodities, derivatives, etc.), as well as platforms specialized in securities and blockchain technology.

For more information about Iceberg Capital, please visit: Website | LinkedIn

About the Venom Foundation

Venom is the world’s first regulated blockchain. The decentralized network operates under the jurisdiction of ADGM, with a license to issue utility tokens. ADGM is an oasis for investors and financial services companies, positioning Venom as the world’s first compliant blockchain and giving authorities and businesses the freedom to build, innovate and grow.

A portfolio of DApps and internal protocols has been developed on the Venom blockchain by various companies. It now has the potential to become a bridge for CBDC adoption in the Middle East, North Africa and around the world.

For all media enquiries, please contact Adam Newton, [email protected]

To learn more about Venom Ventures, please visit: Website | Chirping

For more information on the Venom Foundation, please visit: Website | Chirping

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