• Venom Foundation and Iceberg Capital have partnered to launch a $1 billion venture fund called Venom Ventures Fund (VVF).
• The fund will invest in innovative protocols and Web3 dApps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi.
• Operated by Iceberg Capital, the fund will be investing in projects and teams from pre-seed to Series A rounds and will strive to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for investors.
The Abu Dhabi Global Market (ADGM) licensed and regulated blockchain, Venom Foundation, has announced a new partnership with ADGM regulated investment manager, Iceberg Capital. The pair have joined forces to launch the Venom Ventures Fund (VVF), an ambitious $1 billion venture fund that will focus on investing in innovative protocols and Web3 dApps.
The fund will prioritize long-term trends such as payments, asset management, DeFi, banking services, and GameFi, while seeking to become the leading supporter of the next-generation of digital technologies and entrepreneurs. It will be operated by Iceberg Capital and investments will range from pre-seed to Series A rounds.
The fund is led by an experienced team of 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.
Mustafa Kheriba, the Executive Chairman of Iceberg Capital, commented on the partnership, saying “We are thrilled to partner with Venom Foundation and launch the Venom Ventures Fund. Our aim is to accelerate the adoption of blockchain, DeFi, and Web3 while generating long-term value for our investors. We are confident that the fund will be a success, as it is backed by an experienced team and a global network of industry professionals, as well as the resources of Venom Foundation.”
The fund will leverage Iceberg Capital’s network and capabilities to offer incubation programs and access to an extensive industry network. Furthermore, it will assist the investee projects with marketing, exchange listing, technical, legal, and regulatory support.
With this new venture, Venom Foundation and Iceberg Capital are looking forward to helping entrepreneurs bring their projects to life and to creating a vibrant blockchain ecosystem in the Middle East and beyond.