{"id":43729,"date":"2023-01-11T15:39:52","date_gmt":"2023-01-11T19:39:52","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=43729"},"modified":"2023-01-11T17:38:01","modified_gmt":"2023-01-11T21:38:01","slug":"venom-foundation-launches-1b-fund-for-web3-and-blockchain","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/venom-foundation-launches-1b-fund-for-web3-and-blockchain\/","title":{"rendered":"Venom Foundation launches $1B fund for Web3 and blockchain"},"content":{"rendered":"\n
Venom Ventures Fund is allocating $1 billion to invest in Web3, blockchain and cryptocurrency projects and services<\/a>.<\/h5>\n\n\n\n
\"Venom
Venom Foundation launches $1B fund for Web3 and blockchain<\/figcaption><\/figure>\n\n\n\n

Venom Foundation, an Abu Dhabi-based blockchain platform\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, and Iceberg Capital, an investment manager, announced a new agreement in which they will distribute $1 billion in funding to Web3 and blockchain companies.<\/p>\n\n\n\n

The Venom Ventures Fund will invest in protocols and Web3 decentralized applications (DApps) that are primarily concerned with payments, asset management, decentralized finance <\/a>(DeFi), and GameFi goods and services.<\/p>\n\n\n\n

The fund is a collaboration between Venom Foundation, a layer-1 blockchain technology, and Iceberg Capital, an investment management company based in Abu Dhabi Global Market (ADGM). <\/p>\n\n\n\n

In order to provide incubation programs, industry connections, marketing, exchange listing, and technical, legal, and regulatory help, the latter will seek to take advantage of its current network.<\/p>\n\n\n\n

The fund will be managed by Iceberg Capital, which will make pre-seed and Series A investments in businesses and projects. The collaboration intends to hasten the development of blockchain, DeFi, and Web3 goods and services by enterprises<\/a>. Peter Knez, the chairman of Venom Ventures, responded to inquiries by stating that the fund's seed money came from the Venom Foundation, the organization's founders, as well as local institutional and individual investors. <\/p>\n\n\n\n

The fund will support businesses and initiatives with a worldwide reach, not only those situated in Abu Dhabi. Venom's scalable, proof-of-stake-based blockchain solution will be promoted by the investment fund to entrepreneurs and tech companies. Key services that might run on top of Knez's ADGM-regulated blockchain were highlighted by the company:<\/p>\n\n\n\n

\n

”Payment systems, central bank digital currencies (CBDC), stablecoins and remittance are core services that Venom can provide a solution for due to our unique blend of technology and enterprise.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The platform, in Knez's opinion, may support a wide range of use cases, with the ability to drive Web3 business models and financial inclusion through micropayment solutions:<\/p>\n\n\n\n

\n

\u201cVenom has a vision where developing countries can participate in western countries\u2019 labor markets.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The Middle East's cryptocurrency and blockchain powerhouse is still being established in Abu Dhabi. In September 2022, the United Arab Emirates' capital issued regulations for the sector under the control of the ADGM.<\/p>\n\n\n\n

According to reports, there are over 1,500 Web3 companies and organizations operating in the UAE, and Abu Dhabi has continued to license cryptocurrency exchanges like Binance and Kraken through 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Venom Ventures Fund is allocating $1 billion to invest in Web3, blockchain and cryptocurrency projects and services. Venom Foundation, an Abu Dhabi-based blockchain platform , and Iceberg Capital, an investment manager, announced a new agreement in which they will distribute $1 billion in funding to Web3 and blockchain companies. The Venom Ventures Fund will invest […]<\/p>\n","protected":false},"author":43,"featured_media":43732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/croc_1673462413628-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/43729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=43729"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/43729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/43732"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=43729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=43729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=43729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}