According to Techcrunch, the Layer 1 blockchain Venom Foundation, licensed and regulated by the Abu Dhabi Global Market, has partnered with investment management firm Iceberg Capital to launch a $1 billion venture fund that will invest in Web3 protocols and decentralized applications ( dApps) from pre-seed to Series A funding, focusing on trends like payments, asset management, DeFi, banking services and GameFi. VVF will also provide an incubation program utilizing the resources of Iceberg Capital, assisting projects with marketing, exchange listing, technical, legal and regulatory support. Former BlackRock executive Peter Knez and seasoned investor Mustafa Kheriba will join the fund's leadership team. In addition to the fund’s announcement, VVF made its first investment, leading a $20 million round in Nümi Metaverse, a metaverse platform for creators.