ChainCatcher news, reported by 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, a subsidiary of 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, which is 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem. Stefan Deiss, co-founder and CEO of Hashgraph Group, stated that the fund has received broad support and interest 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 companies within the Web3 and deep tech sectors (developing solutions in artificial intelligence (AI), blockchain, robotics, and quantum computing). Eligible projects will have the opportunity to participate in the Hashgraph Association's startup studio program.
