Gate Ventures and Blockchain Center Partner for $100M Web3 Fund

2024-08-19 05:34:55

Gate Venture UAE

Gate Ventures in partnerhsip with the Blockchain Center in Abu Dhabi has launched a $100 million web3 fund Last updated:

August 18, 2024 21:34 EDT

Journalist

Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

Author Profile

Copied

Last updated:

August 18, 2024 21:34 EDT

Why Trust Cryptonews With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews Gate Ventures, the venture capital arm of Gate.io, has partnered with the Blockchain Center in Abu Dhabi to launch Falcon Gate Ventures, a $100 million fund to foster global Web3 innovation.

This newly unveiled initiative is set to advance decentralized infrastructure, support emerging blockchain projects, and accelerate the adoption of pioneering Web3 technologies across key regions, including the USA, Asia, Europe, and the MENA region.

Falcon Gate Ventures: A Massive $100M Venture Fund

🚀 Big news! @Gate_Ventures and @adbc_ae The Blockchain Center in Abu Dhabi have teamed up to launch Falcon Gate Ventures — a $100M fund fueling #blockchain innovation, research, and regulatory progress globally.
Learn more here👇 pic.twitter.com/bbGpqzukM0

— Gate.io (@gate_io) August 19, 2024

As unveiled on August 19, Falcon Gate Ventures is a massive financial and strategic commitment to Web3’s future.

The fund is designed to support high-potential global projects, focusing on technical breakthroughs in regions such as the Middle East, Asia, and the United States.

This collaboration between Gate Ventures and the Blockchain Center brings together two powerhouses in the digital economy to drive innovation and adoption of blockchain technologies.

The new initiative, which was initially the UAE’s vision, aims to stimulate economic growth within the worldwide Web3 eco, reinforce the UAE’s position as a central hub for blockchain innovation, and attract international talent to the region.

According to Gate announcement, the fund will also work closely with international regulatory authorities to develop frameworks that promote innovation while ensuring user protection worldwide.

Kevin Yang, Managing Partner at Gate Ventures, shared his opinion on the importance of this partnership in the global blockchain economy.

“Falcon Gate Ventures marks a significant step in our mission to advance global blockchain innovation. In partnership with the Blockchain Center in Abu Dhabi, we are investing in the digital future, supporting transformative ideas across continents.”

Abdulla Al Dhaheri, CEO of the Blockchain Center in Abu Dhabi, also shared similar thoughts, noting that Gate Ventures was a natural partner for this initiative.

“Their deep industry expertise, combined with their innovative approach to investing, aligns perfectly with our vision at the Blockchain Center in Abu Dhabi.”

He highlighted Falcon Gate Ventures’ potential to create a powerful synergy that will support and scale high-potential blockchain projects in the UAE and internationally.

Strategic Partnership to Progress Web3

The Blockchain Center in Abu Dhabi was officially launched on August 1. The center aims to establish Abu Dhabi as a global leader in blockchain and create a thriving eco that supports academic institutions, enterprises, and startups through various initiatives and services.

The synergy between Gate Ventures and the Blockchain Center is expected to catalyze the advancement of decentralized technologies and promote cross-border collaboration.

The creation of Falcon Gate Ventures is part of the UAE’s strategic vision to establish itself as a global leader in the space, starting from where the adoption of digital assets has been gaining momentum within traditional banking sectors in the UAE and even recent law ruling employee salary payable in crypto.

For instance, Ras Al Khaimah Bank recently announced a partnership with crypto infrastructure provider Bitpanda Technology Solutions to create a digital asset management platform for UAE residents.

RAKBANK is teaming up with @Bitpanda_global Technology Solutions – a leading digital assets technology provider – to offer UAE residents the opportunity to pursue various digital assets use cases in a secure and efficient way.

When fully launched, RAKBANK customers will be… pic.twitter.com/DJkxgIM1id

— RAKBANK (@RAKBANKlive) August 19, 2024

These all point towards the big goal the country is trying to achieve and will most likely achieve if it keeps this momentum.

Falcon Gate Ventures is set to play a pivotal role in shaping the future of blockchain technology and Web3 innovation.

The fund will provide not only financial backing but also technical and strategic support to emerging projects and startups.

With the combined resources and expertise of Gate Ventures and the Blockchain Center, this initiative is undoubtedly poised to profoundly impact the future of blockchain technology and digital assets in the UAE and worldwide.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.