Hashgraph Group obtains fund management license in Abu Dhabi and will launch US$100 million Web3 fund

PANews reported on December 26 that 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. Hashgraph Ventures Manager, a unit of Hashgraph Group, has obtained a license allowing it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM).

Hashgraph Group will contribute $20 million, or 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, said the fund has received widespread 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 Invest in companies leveraging the Hedera network and promote collaboration among Web3 companies.

The fund will prioritize strategic investments in companies in the Web3 and deep technology fields (developing artificial intelligence (AI), blockchain, robotics and quantum computing solutions). Qualifying projects will have the opportunity to participate in the Hashgraph Association’s Entrepreneurship Studio program.