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Alternative Assets  + Blockchain  + Crypto  + Crypto  + Latest News  + Markets  + VC  |  January 13, 2023
Iceberg, Venom Foundation Launch $1B Fund to Invest in Blockchain Ventures
Joe Palmisano
By: Joe Palmisano

Iceberg, Venom Foundation Launch $1B Fund to Invest in Blockchain Ventures

The Venom Foundation, which manages the world’s first regulated blockchain network, and is licensed and regulated by the Abu Dhabi Global Market, has teamed up with investment manager Iceberg Capital to launch a $1bn venture fund – Venom Ventures Fund (VVF).

VVF will be operated by Iceberg Capital, who will participate in a mix of pre-seed and Series A rounds. Capital will be allocated on a blockchain-agnostic basis and focus on long-term trends such as banking, payments, DeFi, GameFi, and asset management.

The fund’s leadership team includes Peter Knez, ex-CIO of BlackRock and former global CIO for fixed income at Barclays Global Investors, and Mustafa Kheriba, a board member for multiple family offices and long-term investment professional in the Middle East and North African regions.

“Our mission is to transform digital asset management and make a lasting impact on the industry. Venom is the ideal platform for us to achieve this goal,” noted Kenz.

Along with the fund, the foundation announced a $20mn investment in Nümi Metaverse, a major digital world focused platform.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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