Venom, Iceberg set up $1 bn fund to invest in blockchain firms

Blockchain firm Venom Foundation and Abu Dhabi-based investment manager Iceberg Capital have launched a $1 billion crypto venture fund and said it was leading a $20 million funding round in virtual world platform Numi Metaverse.
BlockchainThe fund, called Venom Ventures Fund (VVF), aims to invest in early-stage startups focused on payments, asset management, banking services and gaming on Web3, a much-hyped vision of a future internet built on blockchain.

Venom Ventures fund is chaired by former BlackRock chief investment officer Peter Knez, and will be operated by investment firm Iceberg Capital that is regulated by Abu Dhabi Global Market – the emirate’s international financial center.