- Klumi Ventures is the first Web3 venture capital firm regulated by the FSRA of the Abu Dhabi Global Market, marking a significant milestone in the region’s digital asset ecosystem.
- Klumi Ventures launches two specialized funds: a $15 million Qualified Investors Fund for pre-seed and seed investments, and a flagship $100 million fund tailored to emerging technologies and decentralized sectors.
- Abu Dhabi’s status as a global financial hub and its supportive ecosystem provide unparalleled opportunities for growth and innovation in the digital asset space, making it an ideal location for Klumi Ventures.
- ADGM’s progressive Capital Markets Framework and regulatory support offer an ideal environment for fund managers to excel, attracting 96 fund and asset management firms since May 2023.
Klumi Ventures, the pioneering Web3 venture capital firm in the United Arab Emirates, proudly announces its regulation by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This regulatory milestone marks a significant achievement, heralding a new era of innovation and investment opportunities in the region’s digital asset ecosystem.
Kristiina Lumeste, Senior Executive Officer of Klumi Ventures, expressed her excitement, stating, “Klumi Ventures is honoured to be at the forefront of shaping the UAE’s digital asset landscape as the first Web3 venture capital firm regulated by the FSRA. We are proud to lead this transformative journey, shaping the future of Web3 investment and entrepreneurship in the Middle East and beyond.”
With the support of ADGM and the dynamic ecosystem in Abu Dhabi, Klumi Ventures is dedicated to unlocking new avenues of growth and opportunity for Web3 startups.
In line with this commitment, Klumi Ventures is launching two specialized funds:
- $15 Million Qualified Investors Fund: This fund is designated for pre-seed and seed investments, providing crucial capital and support to early-stage Web3 startups, helping them realize their vision and scale their operations effectively.
- Flagship $100 Million Fund: Tailored to emerging technologies and decentralized sectors, this fund is aimed at providing significant support to startups in the Web3 space.
The stature of Abu Dhabi as a global leading city and the ‘Capital of Capital’ presents unparalleled opportunities for growth and innovation in the digital asset space, according to Lumeste. The strategic positioning of Klumi Ventures in this environment underscores their confidence in the region’s potential and their determination to contribute to its growth and development.
Arvind Ramamurthy, ADGM’s Chief of Market Development, warmly welcomed Klumi to the vibrant international financial center. He highlighted Klumi’s role as a Web3 Venture Capital Fund, addressing a crucial need in the sector. He expressed confidence in Klumi’s strategic approach, combined with ADGM’s regulatory support, to fuel the growth of the Web3 sector locally and globally.
ADGM’s progressive Capital Markets Framework, complemented by its established legal and regulatory structures, provides an ideal setting for fund managers to excel while meeting global standards. Since May 2023, 96 fund and asset management firms have chosen ADGM, underscoring its emergence as a leading financial destination.
About Klumi Ventures:
Klumi Ventures is a premier Web3 venture capital firm based in Abu Dhabi, United Arab Emirates. Regulated by the Abu Dhabi Global Market (ADGM), Klumi Ventures is dedicated to driving innovation and empowerment within the digital asset and Web3 space.
The firm focuses on supporting early-stage startups and offers specialized funds and comprehensive support to entrepreneurs in the Web3 sector. Leveraging the vibrant ecosystem in Abu Dhabi, Klumi Ventures aims to unlock new growth opportunities for startups, family offices, and funds in the Middle East and beyond.
Klumi Ventures is committed to fostering growth and empowerment in the Web3 sector, leading the charge in shaping the future of Web3 investment and entrepreneurship in the Middle East and beyond.
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Last Updated on May 1, 2024 by Safiya K
