TLDR:
- Klumi Ventures is the UAE’s first Web3 venture capital firm regulated by ADGM.
- Klumi Ventures received a financial license allowing the firm to invest in tokens and equity investments in early-stage Web3 startups.
Klumi Ventures has made history by becoming the first Web3 venture capital firm in the United Arab Emirates to be regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM). This milestone achievement allows the firm to invest in tokens as well as equity investments in early-stage Web3 startups. Klumi Ventures is launching two specialized funds – a $15 Million Qualified Investors Fund for pre-seed and seed investments, and a flagship $100 Million fund tailored for emerging technologies and decentralized sectors.
Being at the forefront of shaping the UAE’s digital asset landscape, Klumi Ventures aims to empower the growth of startups in the Web3 sector. With ADGM’s support and the dynamic ecosystem in Abu Dhabi, the firm is dedicated to unlocking new avenues of growth and opportunity for Web3 startups. Kristiina Lumeste, Senior Executive Officer of Klumi Ventures, expressed excitement about the firm’s role in shaping the future of Web3 investment and entrepreneurship in the Middle East and beyond.
The $15 Million Qualified Investors Fund will provide crucial capital and support for early-stage Web3 startups to scale their operations effectively. Klumi Ventures sees Abu Dhabi as a global leading city and the ‘Capital of Capital’, offering unparalleled opportunities for growth and innovation in the digital asset space. This strategic approach, coupled with ADGM’s regulatory capabilities, positions Klumi strongly to contribute greatly to the growth of the Web3 sector in the UAE and beyond.
Since May 2023, 96 fund and asset management firms and funds have registered and operated in ADGM, showcasing the city’s growing importance as a financial hub. Klumi Ventures, as a premier Web3 venture capital firm, is committed to driving innovation and empowerment in the digital asset and Web3 space, with a focus on supporting early-stage startups and unlocking new growth opportunities in the Middle East and beyond.
