• 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.
• 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) announced today that Venom Foundation and Iceberg Capital have agreed to launch a $1 billion venture fund called Venom Ventures Fund (VVF). The fund is the first Layer-1 blockchain licensed and regulated by the ADGM, and Iceberg Capital is an ADGM regulated investment manager.
VVF will be a blockchain-agnostic fund, investing in innovative protocols and Web3 dApps with a focus on long-term trends such as payments, asset management, DeFi, banking services, and GameFi. The fund is aiming to become the leading supporter of the next-generation digital technologies and entrepreneurs, with the goal of accelerating the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors.
The fund will be managed by Iceberg Capital and will be investing in projects and teams from pre-seed to Series A rounds. Iceberg Capital will offer incubation programs and access to an extensive industry network, as well as provide marketing, exchange listing, technical, legal, and regulatory support for the investee projects.
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.
Commenting on the launch of VVF, Mustafa Kheriba, the Executive Chairman of Iceberg Capital, said “We are thrilled to partner with Venom Foundation and launch the first Layer-1 blockchain venture fund. VVF will provide an ideal platform for us to identify and invest in the world’s most promising early-stage blockchain projects and entrepreneurs. We are confident that our fund will enable us to make a meaningful contribution to the industry and drive the much-needed innovation in the blockchain space.”
He further added, “Our team is well-equipped to provide the necessary guidance and support to the portfolio companies to help them succeed in the long-term. We are committed to building a strong portfolio of projects and teams that will help shape the future of blockchain technology.”
Venom Foundation CEO and Co-founder, Dr. Salim Al-Hassani, commented “We are delighted to partner with Iceberg Capital to launch Venom Ventures Fund (VVF). We believe that VVF will provide an ideal platform to enable us to invest in innovative blockchain projects and entrepreneurs that are creating the future of blockchain and DeFi. We are looking forward to working closely with Iceberg Capital to identify and invest in the best projects.”