PANews reported on December 26 that according to Bitcoin.com, the Switzerland-based Hashgraph Group has obtained a fund management license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. The license obtained by Hashgraph Ventures Manager under Hashgraph Group allows it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM).
Hashgraph Group will contribute $20 million, or 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem. Hashgraph Group co-founder and CEO Stefan Deiss said the fund has received widespread support and attention from co-investors, including government agencies, sovereign wealth funds, venture capital funds, family offices and other qualified investors; the group will focus on investing in companies that utilize the Hedera network and promote cooperation between Web3 companies.
The fund will prioritize strategic investments in companies in the Web3 and deep tech sectors (developing artificial intelligence (AI), blockchain, robotics, and quantum computing solutions). Qualified projects will have the opportunity to participate in the Hashgraph Association's Startup Studio Program.
