As Bitcoin steadily begins to creep out of the crypto winter a new fund emerges as the slowdown is presenting major opportunities. The blockchain firm Venom Foundation has aligned with Abu Dhabi based investment firm Iceberg Capital to create what will be a $1 billion venture fund named “Venom Ventures Fund”.
The root mission of the new fund is to seek out and invest in viable early stage blockchain and crypto startups that are focused on asset management, financial services and payments as well as Web3 gaming. This is a big play that could pay off big time for the duo as the fall of FTX has put a sour taste in the mouths of venture capital players. This is probably one of the smarter moves in the space as of late because when there is blood on the street, that is when the opportunities become greatest minus the crazy valuations.
In case you weren’t aware of this one fun fact, Venom Ventures Fund will be chaired by former CIO of BlackRock, Peter Knez.
If this doesn’t spark renewed interest in the space in short order then there will be a lot of opportunities left to those that see the vision of tomorrow.