$1 Billion Venom Ventures Fund Launched to Propel Blockchain Growth in UAE

• Venom Foundation and Iceberg Capital 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.
• The fund’s leadership team consists of experienced traditional finance and blockchain professionals, including Peter Knez, ex-CIO at BlackRock and Mustafa Kheriba, a seasoned investment professional with an impressive track record in the MENA region.

Today marks a momentous occasion for Venom Foundation and Iceberg Capital, as the two have announced a historic partnership to launch a $1 billion venture fund called Venom Ventures Fund (VVF). Venom Foundation, the first Layer-1 blockchain licensed and regulated by the Abu Dhabi Global Market (ADGM), and Iceberg Capital, an ADGM regulated investment manager, have joined forces to create a fund that will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.

The aim of the fund is to become the leading supporter of the next-generation digital technologies and entrepreneurs, leveraging Iceberg Capital’s network, expertise, and capabilities to offer incubation programs and access to an extensive industry network. The fund will also assist the investee projects with marketing, exchange listing, technical, legal, and regulatory support.

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, and his experience will be invaluable in providing guidance and oversight for the fund.

The launch of Venom Ventures Fund (VVF) marks a milestone for the Abu Dhabi Global Market and the blockchain industry in the UAE, as the fund is the first of its kind to be licensed and regulated by ADGM. It is also the largest blockchain-focused venture fund in the MENA region and is expected to be a major catalyst for the growth of the blockchain ecosystem in the region.

The fund will be managed and monitored by a team of experienced professionals who are well-versed in the blockchain sector and have a deep understanding of the local and international blockchain markets. The team will be responsible for identifying high-quality investment opportunities and providing the necessary guidance and direction to ensure that the fund achieves long-term success.

The Venom Foundation and Iceberg Capital partnership seeks to foster innovation and collaboration between the two entities and to create a platform that will enable the development of promising blockchain projects and technologies. The partnership will also provide a much-needed boost to the blockchain industry in the UAE, as the fund will be able to invest in promising blockchain projects, providing them with the necessary resources to grow and reach their full potential.

The launch of Venom Ventures Fund (VVF) is a major step forward for the Abu Dhabi Global Market and the blockchain industry in the UAE, and it is expected to have a major impact on the sector and the region as a whole. The fund is expected to become a major player in the blockchain and digital asset markets and to help propel the growth of the industry in the UAE.