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Venom Foundation partners with Iceberg Capital to launch a $1 billion Web3 venture capital fund, VVF.

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The VVF Fund will invest in innovative Web 3 companies that utilize blockchain technology to solve real-world problems.

Original Title: "Venom Foundation in Partnership With Iceberg Capital Launches $1 Billion Venom Ventures Fund"

On January 11, 2023, Venom Foundation and Iceberg Capital officially announced a partnership in Abu Dhabi to launch a $1 billion Web 3 venture capital fund called Venom Ventures Fund (VVF). It is reported that Venom Foundation is the first Layer 1 blockchain licensed and regulated by Abu Dhabi Global Markets (ADGM), while Iceberg Capital is an investment management company regulated by ADGM.

This fund will invest in innovative protocols and Web 3 Dapps, focusing on long-term trends such as payments, asset management, DeFi, banking services, and GameFi. Its goal is to become a leading supporter of the next generation of digital technology and enterprises.

Venom Ventures Fund (VVF) will leverage Iceberg Capital's network, expertise, and capabilities to provide incubation programs and extensive industry networks. Additionally, it will provide assistance to invested projects in areas such as marketing, exchange listing, technology, legal, and regulatory support.

The leadership team of the fund is composed of the most experienced traditional finance and blockchain professionals in the world, including Peter Knez, former Chief Information Officer of BlackRock, and Mustafa Kheriba, a renowned investment expert with a successful track record in the Middle East and North Africa (MENA) region. Mustafa has served as a board member for several financial services and insurance companies in the Middle East and Europe.

This fund is operated by Iceberg Capital and will invest in projects and teams from seed round to Series A, committed to accelerating the adoption of blockchain, DeFi, and Web 3, while creating long-term value for investors.

Iceberg Capital CEO Mustafa Kheriba said, "We are pleased to collaborate with Venom Foundation to launch a new $1 billion fund. Despite the significant price adjustments in the blockchain industry, we believe that builders will continue to create and innovate. With Venom Venture, we will provide financial, technical, and marketing support to the most promising teams and projects in the Web 3 field to help them achieve their vision."

Abu Dhabi Global Market (ADGM) is an international financial center and free zone that provides market participants with world-class legal systems and regulatory frameworks. Venom Ventures Fund (VVF) was established and operated by an entity regulated by ADGM, and will maintain transparency and comply with regulations.

Venom Ventures Chairman Peter Knez said, "I am pleased to be involved in our new venture capital fund established in Abu Dhabi. I am delighted to collaborate with experienced investment professionals and talented teams in the cryptocurrency field. We are ready to strategically invest in the most innovative Web3 startups, which are expected to be widely adopted. Our mission is to disrupt the digital asset management industry and have a lasting impact on the industry. Venom is the ideal platform for us to achieve this goal."

Venom Ventures Fund (VVF) led a $20 million financing round for Nmi Metaverse.

VVF has completed the first investment of the fund and led a $20 million financing round for Nmi Metaverse, a universal platform for creators, innovators, and fans. The platform will launch a "Visual Novel" in 2023, a mini-game that offers players a series of special prizes during gameplay.

Nmi will also launch a VR metaverse at the end of this year, followed by PC and mobile versions in 2024. The investment in Nmi demonstrates the fund's investment strategy, which is committed to supporting developers and builders of Web3 innovative projects. Interested parties can apply for funding through the Venom Ventures Fund website.

About Iceberg Capital

Iceberg Capital Limited is regulated by FSRA and is a prudent 3C investment management company based in ADGM. Iceberg Capital is a rapidly growing alternative asset management company that provides a diversified investment management platform, 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.), and professional platforms for securities and blockchain technology.

About Venom Foundation

Venom is the world's first regulated blockchain, and its decentralized network operates under the supervision of ADGM, with permission to issue utility tokens. ADGM is an oasis for investors and financial service companies, positioning Venom as the world's first compliant blockchain, providing freedom for authorities and enterprises to build, innovate, and expand. Various companies have developed a range of internal dApps and protocols on the Venom blockchain, and Venom now has the potential to become a bridge for the adoption of CBDCs in the Middle East, North Africa, and globally.