Jan 11 (Reuters) – Blockchain firm Venom Foundation and Abu Dhabi-based investment manager Iceberg Capital Ltd on Wednesday launched a $1 billion crypto venture fund and said it was leading a $20 million funding round in virtual world platform Nümi Metaverse.
The 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.
The launch comes at a time when funding for crypto startups has slowed following the global risk off mood and a series of crypto blowups that culminated in the high-profile downfall of FTX and shook investor sentiment.
Cryptocurrencies have crept into the new year, licking their wounds with bitcoin steady at $17,421, after tumbling 64% in 2022.
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.
Our Standards: The Thomson Reuters Trust Principles.
U.S. crypto company Digital Currency Group (DCG) is at the center of the industry's latest meltdown after one of its companies, Genesis, froze customer withdrawals in November.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2022 Reuters. All rights reserved
