The Venom Ventures Fund, a blockchain firm and Abu Dhabi-based investment manager, have announced a commitment to invest $1 billion into blockchain, Web3 and cryptocurrency projects and services. According to a press release, the fund is dedicated to helping the development of the blockchain industry, as well as supporting the development of new and existing projects in the space.
The Venom Ventures Fund is backed by Abu Dhabi-based investment manager Iceberg Capital Ltd. and blockchain firm Venom Foundation. The fund will be used to invest in projects that aim to improve the current state of blockchain technology, as well as providing support for projects that are already established. The fund will also be used to finance new projects and services that are not currently available in the blockchain space.
The Venom Ventures Fund is the latest in a string of investment being made by Abu Dhabi-based invest in the blockchain space. Recently, Bridgewater has doubled its fund assets in China to more than 20 billion yuan ($2.93 billion) over the past year, according to two sources. This is part of the company’s larger commitment to invest in the blockchain industry.
The Church of England, one of the oldest and largest financial institutions in the world, has also recently revealed that it invest in the transatlantic slave trade during the 18th century. The head of its investment arm said that the Church of England was aware of the investment it was making into the slave trade but said that it was a “necessary evil” to fund the Church’s activities at the time.
The Church of England’s investment into the slave trade were not the only investment made during the 18th century. A Chinese quantitative hedge fund and an unidentified employee donated 359 million yuan ($53 million) to charity last year, according to a recent report. This is one of the largest charitable donations ever made in China and is indicative of the growing trend of philanthropy in the country.
Ares Management Corp., one of the largest alternative asset managers in the world, recently announced that it had raised $5 billion for its Infrastructure Debt Fund V. The fund will be used to invest in the debt of infrastructure projects around the world, including renewable energy projects and transportation projects.
These investment demonstrate the confidence that invest have in the blockchain space as well as the growing trend of using blockchain technology to improve existing infrastructure and services. The Venom Ventures Fund is another example of this trend and is a testament to the potential of blockchain technology to revolutionize the way we do business.
