PANews December 26 news, 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 Group's Hashgraph Ventures Manager allows it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM).
Hashgraph Group will invest $20 million, which is 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 stated that the fund has received broad 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 utilizing the Hedera network and promoting collaboration among Web3 companies.
The fund will prioritize strategic investments in Web3 and deep tech sectors (developing artificial intelligence (AI), blockchain, robotics, and quantum computing solutions). Eligible projects will have the opportunity to participate in the Hashgraph Association's startup studio program.