• Venom Foundation and Iceberg Capital have partnered to launch a $1 billion venture fund called Venom Ventures Fund (VVF).
• VVF will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.
• The fund’s leadership team consists of some of the world’s most experienced traditional finance and blockchain professionals.
The Abu Dhabi Global Market (ADGM) recently licensed and regulated Venom Foundation, the first Layer-1 blockchain, and Iceberg Capital, an ADGM regulated investment manager. Together, the two companies have announced their partnership to launch a $1 billion venture fund called Venom Ventures Fund (VVF). The fund is blockchain-agnostic and will invest in various innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.
The team leading the VVF consists of highly experienced professionals from both traditional finance and blockchain backgrounds. Peter Knez, ex-CIO at BlackRock, will help to manage the fund as well as 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.
Iceberg Capital, the operator of VVF, will be investing in projects and teams from pre-seed to Series A rounds. It will provide incubation programs and access to an extensive industry network for the investee projects. Furthermore, it will assist the projects with marketing, exchange listing, technical, legal, and regulatory support.
Mustafa Kheriba, the Executive Chairman of Iceberg Capital, said „We are thrilled to launch VVF, as it will provide much-needed access to capital, resources, and expertise for the blockchain and Web3 businesses. Our goal is to become the leading supporter of the next-generation digital technologies and entrepreneurs, and to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors.“
The launch of VVF is a major milestone for the blockchain and Web3 industry. It will enable innovative projects to access the capital and resources they need to succeed and will help to foster the adoption of Web3 and DeFi products and services.