• The 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; 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.
The Venom Foundation and Iceberg Capital have announced their partnership to launch a $1 billion venture fund, aptly named Venom Ventures Fund (VVF). The fund, which is blockchain-agnostic, will invest in innovative protocols and Web3 dApps that are focused on long-term trends such as payments, asset management, DeFi, banking services, and GameFi. Founded under the auspices of Abu Dhabi Global Market (ADGM), the fund is the first Layer-1 blockchain officially licensed and regulated by the ADGM.
The fund is led by some of the most experienced traditional finance and blockchain professionals in the world. This includes Peter Knez, the former Chief Investment Officer at BlackRock, and Mustafa Kheriba, a seasoned and well-known investment professional with a remarkable track record in the Middle East and North African (MENA) region. He has served on the Board of Directors of several financial services and insurance companies in the Middle-east and Europe.
Operated by Iceberg Capital, Venom Ventures Fund will provide incubation programs and access to an extensive industry network to assist investee projects with marketing, exchange listing, technical, legal, and regulatory support. It will strive to accelerate the adoption of blockchain, DeFi, and Web3 technologies, while generating long-term value for investors.
Mustafa Kheriba, the Executive Chairman of Iceberg Capital, expressed his enthusiasm for the Venom Ventures Fund. He said, “We are thrilled to announce the launch of this fund. We believe that it will become the leading supporter of the next-generation digital technologies and entrepreneurs, and will play a major role in driving the adoption and development of Web3 and DeFi.”
Venom Ventures Fund will invest in projects and teams from pre-seed to Series A rounds. It is expected that the fund will become a major driving force in the global blockchain and cryptocurrency space, and will further bolster Abu Dhabi’s overall blockchain ecosystem.