Abu Dhabi-based Venom Foundation launches $1B fund for Web3 and blockchain

Venom Ventures Fund is allocating $1 billion to invest in Web3, blockchain and cryptocurrency projects and services.

Abu Dhabi-based blockchain platform Venom Foundation and investment manager Iceberg Capital announced they will allocate $1 billion of funding to Web3 and blockchain firms through a new partnership.

The Venom Ventures Fund is set to invest in protocols and Web3 decentralized applications (DApps) focused on payments, asset management, decentralized finance (DeFi) and GameFi products and services.

The fund is a partnership between layer-1 blockchain solution, Venom Foundation and Abu Dhabi Global Market (ADGM) investment management firm, Iceberg Capital. The latter will look to leverage its existing network to offer incubation programs and industry connections as well as marketing, exchange listing and technical, legal and regulatory support.

Raed More: https://cointelegraph.com/news/abu-dhabi-based-venom-foundation-launches-1b-fund-for-web3-and-blockchain