Hashgraph Group has obtained a fund management license in Abu Dhabi and will launch a $100 million Web3 fund

ChainCatcher news, according to Bitcoin.com, 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 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 collaboration among 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). Eligible projects will have the opportunity to participate in the Hashgraph Association's startup studio program.