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Gate Ventures and Abu Dhabi Center forge $100M Web3 fund Gate Ventures and Abu Dhabi Center forge $100M Web3 fund

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Gate Ventures and Abu Dhabi Center forge $100M Web3 fund – Crypto News

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Gate Ventures, the investment arm of cryptocurrency exchange Gate.io, has partnered with the Blockchain Center in Abu Dhabi to launch a $100 million fund to drive Web3 innovation in the coming years.

Named Falcon Gate Ventures, this new fund will focus on advancing decentralised infrastructure and applications while accelerating the adoption of pioneering technologies worldwide.

The fund will primarily support high-potential projects across critical regions, including the US, Asia and MENA. This global approach underscores the fund’s commitment to fostering innovation on an international scale. “This joint venture initiative takes a global stance to support Web3 builders that are committed to reshaping the world in the digital age,” the release reads.

Abdulla, CEO of the Blockchain Center in Abu Dhabi, said: “Choosing Gate Ventures as our partner for this joint fund was a natural decision for us. Gate Ventures brings a wealth of experience and a proven track record in blockchain and digital assets. Their deep industry expertise and innovative approach to investing align perfectly with our vision at the Blockchain Center in Abu Dhabi.”

Abdulla further emphasised the potential impact of the collaboration, saying, “We believe that together, we can create a powerful synergy that will drive forward our mission to support and scale high-potential blockchain projects. Gate Ventures shares our commitment to fostering cutting-edge technologies. With their global network and insights, we are confident that this partnership will accelerate the adoption and impact of blockchain innovations, both in the UAE and internationally.”

The fund is built on three strategic pillars:

  1. Global coverage: Falcon Gate Ventures will support high-potential projects worldwide, with a targeted focus on technical breakthroughs in the Middle East, Asia, the US, and other key regions.
  2. Economic impact: The initiative is expected to stimulate growth within the worldwide Web3 ecosystem, advancing economic development and reinforcing the UAE’s position as a central hub in the international digital economy.
  3. Regulatory commitment: The fund will work closely with international regulatory authorities to develop frameworks that foster innovation and ensure global user protection.

Beyond financial support, Falcon Gate Ventures aims to catalyze blockchain advancement globally through several key initiatives:

  • Fostering innovation: The fund will accelerate the deployment of blockchain solutions by funding innovative projects and startups worldwide.
  • Supporting education and research: Investments in education and research initiatives will help build a skilled global workforce in the blockchain sector.
  • Facilitating cross-border collaboration: The fund will promote international partnerships to enhance technological advancement and economic development.

“Falcon Gate Ventures marks a significant step in our mission to advance global blockchain innovation,” Kevin Yang, managing partner at Gate Ventures, said.

Overall, the joint venture also aligns with the UAE’s vision to become a global leader in the digital economy, strengthening the nation’s position as a hub for blockchain innovation and a magnet for international talent.

Ultimately, Falcon Gate Ventures represents more than just a financial commitment; it is a strategic endeavour bringing diversified resources to foster Web3 founders with global aspirations. By leveraging the extensive network and expertise of both Gate Ventures and the Blockchain Center, the fund seeks to discover and support projects poised to shape the future of blockchain technology and digital assets.

With its global reach, strategic partnerships, and substantial funding, the venture has the potential to play a crucial role in shaping the next generation of blockchain technologies and applications.

See also: Web3 meets defence tech: Constellation Network launches Global Hackathon

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Tags: blockchain, Web3

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