- Klumi Ventures has received a financial license to invest in tokens and equity in early-stage Web3 startups.
- The renowned VC is the first Web3 venture capital firm regulated by the FSRA.
- Klumi Ventures also announced the launching of two specialized funds to support Web3 development.
Klumi Ventures, a premier Web3 venture capital (VC) firm based in Abu Dhabi, has received a financial license permitting it to invest in tokens and equity investments in early-stage Web3 startups. In a recent announcement, the firm, regulated by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), noted that the development heralds a new era of innovation and provides investment opportunities in the digital asset ecosystem across its region.
Commenting on the recent achievement, Kristiina Lumeste, Senior Executive Officer of Klumi Ventures, noted that the firm is honored to be at the forefront of shaping the UAE’s digital asset landscape. According to Lumeste, Klumi Ventures is the first Web3 venture capital firm regulated by the FSRA and focused on shaping the future of Web3 investment and entrepreneurship in the Middle East and beyond.
The Senior Executive Officer highlighted that the firm focuses on unlocking new avenues of growth and opportunity for Web3 startups. Furthermore, she noted that the firm would achieve this with the support of ADGM and the dynamic ecosystem in Abu Dhabi.
Meanwhile, Klumi Ventures also announced the launching of two specialized funds, one of which is the $15 Million Qualified Investors Fund. The firm explained that this fund is slated for pre-seed and seed investments. It aims to provide early-stage Web3 startups with crucial capital and support to realize their vision and scale their operations effectively.
The second fund is the flagship $100 Million fund tailored to emerging technologies and decentralized sectors. Lumeste believes these funds will enhance Abu Dhabi’s status as a leading city and the ‘Capital of Capital.’ She also thinks they present unparalleled opportunities for growth and innovation in the digital asset space”.
ADGM’s Chief of Market Development, Arvind Ramamurthy, commended Klumi Ventures over the recent achievement. According to Ramamurthy, the firm’s efforts at bringing specialized funds that fill critical gaps in the Web3 position are to harness the immense potential of this sector, not only in Abu Dhabi but also throughout the region.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
