Abu Dhabi-based foundation launches $1 billion fund to support Web3 and blockchain


The new fund, named Venom Ventures, will invest in protocols, as well as decentralized Web3 applications. Projects, operating within payments, asset management, as well as initiatives of the decentralized finance (DeFi) area and the GameFi sector, can count on support.

Powerful support for blockchain projects

Venom Foundation, which is a blockchain-oriented platform based in Abu Dhabi, is joining forces with Iceberg Capital. The investment manager of the second entity has announced a partnership, under which as much as $1 billion, will go to support Web3 and blockchain companies. The fund, named Venom Ventures, will aim to invest in crypto entities in various fields. Those with a focus on payments, asset management, as well as DeFi, and GameFi are expected to gain the most.

As part of the partnership, Iceberg Capital will be oriented to use its own network to offer incubation programs. The company’s bargaining chip is the industry connections, marketing and stock market listings available here. It also offers technical, legal and regulatory support. 

Venom Foundation intent on global expansion

At the same time, Venom Ventures CEO Peter Knez noted that the fund’s goal is not to focus on local solutions. Projects from all over the globe can count on support, especially those that, in the opinion of the foundation’s representatives, will present themselves as the most developmental. 

The fund will focus on start-ups that wish to take advantage of the proof-of-stake-based scaling offered by Venom. In doing so, he indicated which services the foundation’s representatives believe look most promising at the moment:

“Payment systems, central bank digital currencies (CBDCs), stablecoins and remittances are the core services for which Venom can provide a solution through our unique blend of technology and entrepreneurship.”

Venom’s big opportunities

Peter Knez points out that the Foundation is able to support many use cases. Micropayments and financial inclusion are among them. As he pointed out:

“Venom has a vision in which developing countries can participate in the labor markets of Western countries.”

It is worth noting that Abu Dhabi, is one of the regions in the world that is racing to become the largest cryptocurrency hub. There are already more than 1,500 blockchain companies operating in the UAE. This is fostered by the lightning-fast implementation of a transparent law that has taken place over the past year.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this article

More news


XRP outperforms Bitcoin and Ethereum

In the past week, XRP decisively outperformed its main rivals, Bitcoin (BTC) and Ethereum (ETH), in terms of capital flows. Moreover, it recorded an impressive $2.7 million…

Solana and Avalanche on the eye of investment funds

Two alternative coins, Solana (SOL) and Avalanche (AVAX), are gaining increasing interest and are successively attracting the attention of investment funds. Although bitcoin (BTC) remains the main…
All articles loaded
No more articles to load


Cryptocurrency wallets

Cryptocurrency wallets

We talked about security when trading crypto assets in an article titled “Online security“. We also mentioned how important it…
hardware wallets

Cryptocurrency hardware wallets

From the article titled “Cryptocurrency wallets” you learned about the different types of wallets. They were briefly characterized there. Let’s…
Where to buy cryptocurrency brokers

Which cryptocurrency Brokers to use

In the article “Where to Buy Cryptocurrencies (Exchanges)“, we introduced you to which exchange platforms you can purchase cryptocurrencies on.…
Trading cryptocurrencies

Trading cryptocurrency

In the cryptocurrency market, you face many opportunities to invest in cryptocurrency or buy or sell cryptocurrency. If you want…
All articles loaded
No more articles to load


All articles loaded
No more articles to load

Latest news

All articles loaded
No more articles to load