Abu Dhabi-based Gate Ventures and The Blockchain Center collaborate to establish a $100 million Web3 Innovation Fund.
Falcon Gate Ventures Launches to Boost Web3 Ecosystem
Falcon Gate Ventures, a new Web3 venture firm, has been launched through a collaboration between Gate Ventures (the venture arm of crypto exchange platform Gate.io) and the Blockchain Center in Abu Dhabi. Based in the UAE, the partnership aims to capitalize on the growing momentum of blockchain technology and Web3 platforms.
The focus of Falcon Gate Ventures is on investing in the next wave of Web3 technologies and startups. The firm seeks to support and accelerate innovation in the Web3 ecosystem by backing promising projects and entrepreneurs within this space, leveraging Abu Dhabi’s strategic position as a hub for blockchain and crypto innovation.
The initiative aims to stimulate growth within the global Web3 ecosystem and reinforce the UAE’s position as a central hub in the international digital economy. By combining Gate Ventures’ investment expertise with the Blockchain Center’s industry insight, Falcon Gate Ventures seeks to be a leading catalyst for developing the Middle East’s Web3 ecosystem, fostering local and global innovation.
The partnership believes in transcending borders to deliver disruptive innovation. It aims to attract more global talent to the region as it solidifies its position as a hub for blockchain innovation. The initiative also plans to collaborate with global regulators to develop a framework that fosters innovation while ensuring user protection.
The Blockchain Center in Abu Dhabi, a global hub for Web3 technologies, sees the partnership as a means to further cement its role as a global hub for Web3 technologies. The CEO of the Blockchain Center, Abdulla, commented on the announcement, stating that Gate Ventures' deep industry expertise and innovative approach aligns perfectly with their vision.
Kevin Yang, Managing Partner at Gate Ventures, stated that Falcon Gate Ventures marks a significant step in advancing global blockchain innovation. The firm focuses on investing in early-stage and growth-stage Web3 companies, accelerating blockchain innovation and adoption in Abu Dhabi and beyond, supporting founders building disruptive decentralized platforms and technologies, and leveraging strategic partnerships to connect capital, technology, and talent within the Web3 space.
The new fund seeks to foster the global growth of the Web3 ecosystem by providing support for high-potential projects worldwide and investing in education and research initiatives to build a skilled workforce. The initiative aims to deliver lasting global impact by supporting transformative ideas across continents, focusing on backing builders from the USA, Asia, Europe, and the MENA region.
In conclusion, Falcon Gate Ventures is poised to play a significant role in shaping the future of the Web3 ecosystem. The partnership between Falcon Gate Ventures and the Blockchain Center in Abu Dhabi is seen as paving the way for a new era of disruptive innovation, paving the path for a future where blockchain technology and Web3 platforms are at the forefront of digital transformation.
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