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 layer-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 Web3 DApps focusing on long-term trends such as payments, asset management, DeFi, banking and GameFi. It aims to become the mainstay of digital technologies and the next generation of entrepreneurs.

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

The fund’s management team consists 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 sat on the board of several financial service 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 pleased to partner with the Venom Foundation on the launch of their new billion-dollar fund. Although the blockchain industry is experiencing a major price correction, we believe that builders 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.”

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

Peter Knez, Chairman 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 experienced investment professionals and talented people from across cryptocurrency industry, and we are ready to allocate strategic investments in the most innovative Web3 startups that are gaining mass adoption. Our mission is to transform digital asset management and make a lasting impact on the industry. Venom is the perfect platform for us to achieve this goal.”

The foundation 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 series of special prizes for players.

Nümi will also launch a virtual reality (VR) metaverse before the end of the 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 asset 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 on Iceberg Capital, visit: Website | LinkedIn

About the Venom Foundation

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

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

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

To learn more about Venom Ventures, visit: Website | Twitter

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

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