What is Venom Blockchain?
The Venom Foundation advocates for the adoption of blockchain technology with the objectives of empowering individuals in Africa, establishing a connection between traditional banking and commerce with the Web3 realm, and facilitating seamless cross-border trade and transactions to stimulate regional economic advancement.
Venom Blockchain use TVM
Venom Blockchain is constructed upon the Threaded Virtual Machine (TVM), which furnishes a remarkably effective and expandable approach for managing account interactions within the Venom Blockchain. Through the implementation of the Actor model, TVM can segregate and run actors in parallel, thereby facilitating the proficient management of intricate distributed systems. This, in turn, enhances the dynamic sharding protocol's ability to organize accounts into shards, leading to heightened efficiency and the capability for contracts to execute asynchronously.
Venom Foundation and Iceberg Capital launch $1B venture fund
Venom Foundation, a layer-1 blockchain with licensing and regulation from the Abu Dhabi Global Market, has collaborated with investment manager Iceberg Capital to unveil a $1 billion venture fund. This significant announcement was made jointly by the two entities on Wednesday.
Named the Venom Ventures Fund (VVF), this fund amounting to $1 billion is designed to be agnostic to specific blockchains and will specialize in investing in early-stage to Series A funding rounds for web3 protocols and decentralized applications (dApps). These dApps are tailored to address trends such as payments, asset management, DeFi, banking services, and GameFi.
Leading the fund is an accomplished team, including Peter Knez, who previously held the position of Chief Investment Officer (CIO) at BlackRock and formerly served as the global CIO for fixed income at Barclays Global Investors. Also part of the leadership is Mustafa Kheriba, known for his role as a board member in multiple family offices and his extensive experience as a long-term investment professional in the Middle East and North African regions.