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New fund to back Web3 startups: The Abu Dhabi Blockchain Center and Gate Ventures, the VC arm of crypto exchange Gate.io, are launching a USD 100 mn fund — dubbed Falcon Gate Ventures — to support Web3 projects, according to a press release. The fund will support blockchain startups in the US, Asia, Europe, and the MENA region that are working on advancing decentralized infrastructure and platforms.
The fund has broader objectives: Falcon Gate Ventures will also invest in education and research to upskill the workforce, as well as collaborate with international regulatory bodies to draft frameworks promoting innovation while ensuring the protection of global users.
What they said: “Gate Ventures brings a wealth of experience and a proven track record in the blockchain and digital assets space. Their deep industry expertise, combined with their innovative approach to investing, aligns perfectly with our vision at the Blockchain Center and with their global network and insights, we are confident that this partnership will accelerate the adoption and impact of blockchain innovations, both in the UAE and internationally,” CEO of the Blockchain Center Abdulla Al Dhaheri said.
About the Blockchain Center: Launched earlier this month, the center aims to drive growth in the blockchain industry by launching new platforms, hosting events, and supporting startups through its incubation and acceleration hub and its VC arm.
