Switzerland's Hashgraph Group has obtained a fund management license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. The license is granted to Hashgraph Ventures Manager, a subsidiary of Hashgraph Group, allowing the company to launch a $100 million Web3 venture fund in ADGM.
Hashgraph Group will contribute $20 million, or 20% of the fund, as seed capital. The fund will focus on investing in startups and established companies within the Hedera ecosystem, giving priority to strategic investments in Web3 and deep tech companies that develop artificial intelligence (AI), blockchain, robotics, and quantum computing solutions. Qualified projects will have the opportunity to participate in the Hashgraph Association's Startup Studio Program. (Bitcoin.com)