TLDR:
– Klumi Ventures is now regulated by the Financial Services Regulatory Authority of ADGM.
– The UAE’s first Web3 VC firm regulated by FSRA, Klumi Ventures is launching specialized funds to support Web3 startups.
UAE’s Web3 VC firm Klumi Ventures has achieved regulation by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This marks a significant milestone in the region’s digital asset ecosystem as Klumi Ventures leads the way in fostering growth and empowerment in the Web3 sector. The firm is launching two specialized funds, a $15 million Qualified Investors Fund for pre-seed and seed investments, and a flagship $100 million fund for emerging technologies and decentralized sectors. With ADGM’s support, Klumi Ventures is dedicated to unlocking new opportunities for Web3 startups in the Middle East and beyond.
Kristiina Lumeste, Senior Executive Officer of Klumi Ventures, expressed gratitude for being at the forefront of shaping the UAE’s digital asset landscape and emphasized the transformative journey ahead. ADGM’s Chief of Market Development, Arvind Ramamurthy, welcomed Klumi to the progressive financial center and highlighted the potential for growth in the Web3 sector. The partnership between Klumi Ventures and ADGM showcases the city’s growing importance as a financial hub and a conducive environment for fund managers to thrive while adhering to international standards.
