TLDR:
Token Bay Capital has been granted in-principle approval to invest in tokens and equity of crypto start-ups in Abu Dhabi Global Market. This marks their global expansion and aligns with the launch of their second fund.
- Token Bay Capital granted IPA to invest in tokens and equity in ADGM
- Expansion and opening of new offices in Abu Dhabi to align with second fund
Token Bay Capital has received an in-principle approval from the Financial Services Regulatory Authority (FSRA) to carry out regulated activities in ADGM. This approval allows them to manage both token and equity investments in early-stage crypto start-ups under the FSRA’s Venture Capital Fund Manager framework. The opening of Token Bay’s new offices in Abu Dhabi is in line with the launch of their second fund.
Founded in 2021, Token Bay is a leading Crypto Venture Capital Fund that focuses on investing in start-ups developing blockchain infrastructure and decentralized applications for Web3. The approval in ADGM allows Token Bay to continue supporting entrepreneurs in the new token economy. The expansion to Abu Dhabi, along with existing offices in Hong Kong, positions Token Bay strategically in digital asset hubs across the Middle East and Asia.
ADGM’s progressive regulatory framework and vibrant blockchain ecosystem attracted Token Bay to establish offices in Abu Dhabi. The Chief of Market Development at ADGM, Arvind Ramamurthy, welcomed Token Bay Capital to the international financial center, noting their dedication to fostering innovation in the financial sector. Token Bay’s Venture Funds provide various entities with the opportunity to invest in emerging asset classes at the beginning of a long-term growth cycle.
