Techub News reported, according to Fintech Finance News, The Hashgraph Group (THG), headquartered in Switzerland, has obtained a fund management license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates. The license obtained by Hashgraph Ventures Manager, a subsidiary of The Hashgraph Group, allows it to launch a $100 million Web3 venture capital fund from the Abu Dhabi Global Market (ADGM).
The 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. The fund will prioritize strategic investments in companies in the Web3 and deep tech fields (developing artificial intelligence (AI), blockchain, robotics, and quantum computing solutions). Eligible projects will have the opportunity to participate in the Hashgraph Association's incubator program.
