Curated News
By: NewsRamp Editorial Staff
May 02, 2024
Klumi Ventures Receives First Web3 Venture Capital Firm License in UAE
TLDR
- Klumi Ventures received a first-of-its-kind financial licence to invest in tokens and equity, giving them a competitive advantage in the Web3 sector.
- Klumi Ventures is launching a $100 Million fund for emerging technologies and decentralized sectors, along with a $15 Million fund for pre-seed and seed investments.
- Klumi Ventures' focus on supporting early-stage startups in the Web3 sector aims to drive innovation and empowerment in the digital asset space, making tomorrow better than today.
- Klumi Ventures' achievement as the UAE's pioneering Web3 venture capital firm regulated by the FSRA heralds a new era of innovation and investment in the region's digital asset ecosystem.
Impact - Why it Matters
Klumi Ventures' achievement is a milestone in the digital asset ecosystem, opening up new investment opportunities in the Web3 sector. This news signifies a shift towards innovation and growth in the Middle East, offering startups crucial capital and support to scale their operations effectively.
Summary
Klumi Ventures, a Web3 venture capital firm, has received a financial license from the FSRA of ADGM, allowing the firm to invest in tokens and equity investments for early stage startups. They are launching a $100 million fund for emerging technologies and a $15 million fund for pre-seed and seed investments. This marks a significant step in shaping the UAE’s digital asset landscape, as Klumi Ventures becomes the first Web3 venture capital firm regulated by the FSRA.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Klumi Ventures Receives First Web3 Venture Capital Firm License in UAE
