Venom Foundation launches $1bn web3 fund from Abu Dhabi

Abu Dhabi, UAE

The Venom Foundation, an Abu Dhabi-based blockchain platform, and investment manager Iceberg Capital have unveiled a $1 billion venture fund to invest in web3 and blockchain projects.

The Venom Ventures Fund (VVF) plans to invest in pre-seed to Series A funding rounds with projects focused on decentralised finance (DeFi), payments, asset management, and blockchain gaming.

Venom Foundation is a layer-1 blockchain solution with a focus on “serving the needs of the Middle...

Heroic Story raises £5m to create web3 roleplaying game

Blockchain Gaming

Web3 gaming company Heroic Story has raised £5 million in a seed round led by Upfront Ventures for a blockchain-based tabletop roleplaying game (RPG).

The funding will be used to launch a live beta of the game, develop blockchain technology for a multiplayer version of the game, and hire more talent.

Other participants in the round included Multicoin Capital and Polygon Technology, along with strategic angels such as Team Liquid CEO Steve Arhancet and Quantstamp CEO...

Blockchain analytics firm TRM Labs nets £60m in expanded Series B

Analytics

Blockchain analytics firm TRM Labs has expanded its Series B funding round with a £60 million injection led by Thoma Bravo.

The intelligence company uses blockchain data and advanced analytics to detect and tackle financial crime.

The expanded round was led by global private equity firm Thoma Bravo, with Goldman Sachs and previous TRM investors Amex Ventures, Citi Ventures, and PayPal Ventures all participating.

TRM’s initial Series B kicked off in December...

Samsung was the most active investor in blockchain this year

Samsung

Market intelligence platform Blockdata has identified Samsung as the most active investor in blockchain over the past year.

The Korean tech giant participated in thirteen funding rounds from September 2021 to June 2022 for companies including Bored Apes Yacht Club developer Yuga Labs, Axie Infinity owner Sky Mavis, and blockchain gaming company Animoca Brands.

Most of the corportation’s investments came from Samsung Next, the innovation arm of Samsung Electronics that...

Nomad raises £18.4m for secure cross-chain DeFi protocol

Bridge

DeFi cross-chain interoperability protocol Nomad has secured a $22.4 million (£18.4m) seed round from leading investors in the crypto industry.

Crypto investment firm Polychain led the round, with Coinbase Ventures, Crypto.com Capital, OpenSea, Wintermute, Gnosis, Algaé and Polygon all participating too.

This financing round will be used to expand Nomad to other blockchains, helping it create a more secure cross-chain bridge encryption ecosystem, where different...

KPMG invests £25m into web3 training as it preps for the metaverse

Metaverse

KPMG, one of the Big Four global accounting firms, is investing £25 million into web3 training for its employees to explore potential metaverse use cases.

The centrepiece of the project will be a collaboration hub built to explore metaverse applications in industries such as healthcare, retail, and financial services.

Laura Newinski, deputy chair and chief operating officer at KPMG in the US, said: "The metaverse is a market opportunity, a way to re-engage talent, and a...

Pintu bags $113m Series B to meet Indonesian crypto demand

Pintu, a popular Indonesian crypto exchange, has closed a $113 million (£90m) Series B round of funding as the country’s crypto market experiences a boom in popularity.

The round, which leads on from a $35 million Series A last August, saw investment from prominent firms such as Pantera Capital, Intudo Ventures, Lightspeed, and Northstar Group.

Pintu is licensed by Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) under the Ministry of Trade,...

A16z unveils record-breaking web3 fund despite market agitation

Andreessen Horowitz’s web3 arm - a16z crypto - has raised $4.5 billion (£3.6bn) for its fourth crypto fund, setting a new record for venture capital (VC) in spite of the market’s turbulence.

Last June, a16z crypto announced its third fund whilst the market’s total capitalisation sat at an all too familiar $1.35 trillion (£1.05tn).

Back then, the firm brought $2.2 billion (£1.75bn) to the table for what it saw as the “next wave of computing...

BlockApps raises £31m to expand traceability enterprise platform

Blockchain

BlockApps has raised $41 million (£31.4m) in funding for the expansion of its blockchain-as-a-service (BaaS) platform, STRATO.

STRATO is an Ethereum-compatible blockchain solution that helps enterprises bring more transparency and traceability to their operations.

The oversubscribed funding round was led by Liberty City Ventures, with participation from new investors Morgan Creek Digital, Eidetic Ventures, and Givic. Combined with a prior $9 million (£6.9m) financing...

Circle bags £300m from BlackRock to compete with top stablecoin Tether

Circle

Web3 finance firm Circle has agreed to a $400 million (£307m) funding round as part of a broad strategic partnership with BlackRock.

As the issuer of stablecoin USD Coin (USDC), Circle is responsible for the fifth largest cryptocurrency by market cap alongside a host of decentralised finance (DeFi) tools.

The funding round is expected to close in the second quarter with other investors including Marshall Wace LLP and Fin Capital.

In addition to the capital...