The post Abu Dhabi Gives Hashgraph Group License for $100M Web3 Fund appeared on BitcoinEthereumNews.com.

Switzerland-based Hashgraph Group has received a fund management license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates for its subsidiary, Hashgraph Ventures Manager, to launch a $100 million Web3 venture fund based in ADGM. With this license in place, Hashgraph Group plans to contribute $20 million i.e., 20% of the total fund- as seed capital. The fund’s primary focus will be on supporting early-stage and established companies within the Hedera ecosystem. The group thus, aims to foster innovation by prioritizing investments in companies utilizing the Hedera network while promoting collaboration among Web3 enterprises. The venture fund will focus on strategic investments in Web3 and deep-tech sectors, including artificial intelligence (AI), blockchain, robotics, and quantum computing. Qualifying projects will also gain access to the Hashgraph Association’s venture studio program, which provides additional resources and mentorship. Stefan Deiss, co-founder and CEO of Hashgraph Group, remarked, “We’ve received strong interest in our Web3 ventures fund from existing co-investors and ecosystem partners, including government institutions, sovereign wealth funds, venture capital firms, family offices, and other qualified investors. We are particularly deliberate in selecting strategic co-investor partners to ensure a diversified portfolio across target industry sectors.” Kamal Youseff, president of the Hashgraph Association, expressed the non-profit’s enthusiasm for supporting entrepreneurs and organizations working to develop transformative Web3 solutions with a positive socio-economic impact. Andrew Forson, Head of Ventures & Investments at Hashgraph Group, highlighted the approach the team employs in evaluating investment opportunities based on key commercial and technological criteria to make well-informed decisions. Also Read: BlackRock Secures License To Operate In Abu Dhabi, BTC Lift off $92K Source: https://www.cryptonewsz.com/abu-dhabi-hashgraph-group-license-100m-web3/

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Filed under: News - @ December 26, 2024 1:22 am