{"id":74156,"date":"2023-02-15T18:40:00","date_gmt":"2023-02-15T16:40:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74156"},"modified":"2025-09-09T18:27:39","modified_gmt":"2025-09-09T15:27:39","slug":"abu-dhabi-launches-2-billion-fund-to-back-web3-startups","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/abu-dhabi-launches-2-billion-fund-to-back-web3-startups\/","title":{"rendered":"Abu Dhabi launches $2 billion fund to back Web3 startups"},"content":{"rendered":"<p>Representatives of Hub71, the technology-innovation-oriented free zone in the <span data-descr=\"International Financial Centre\" class=\"old_tooltip\">\u041c\u0424\u0426<\/span> of Abu Dhabi (UAE) <a href=\"https:\/\/wam.ae\/en\/details\/1395303129268\">announced<\/a> the Hub71+ Digital Assets initiative. It envisions allocating $2 billion to attract<a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\"> Web3<\/a>\u2014 and blockchain startups.<\/p>\n<p>Entrepreneurs will have access to a broad range of programs and potential corporate, governmental, and investment partners.<\/p>\n<p>Support is provided for relocating existing businesses, including unicorn status.<\/p>\n<p>The main partner of Hub71+ Digital Assets is the state-owned First Abu Dhabi Bank. Also in this capacity are Bitcoin exchanges and providers of services related to digital assets.<\/p>\n<p>By the end of 2021, it was reported that the UAE&#8217;s sovereign wealth fund was interested in investing in crypto startups.<\/p>\n<p>In January 2023, the Abu Dhabi-licensed Venom Foundation, a blockchain platform, in partnership with Iceberg Capital, launched a venture-investment vehicle <a href=\"https:\/\/forklog.com\/en\/news\/venom-foundation-launches-1-billion-fund-to-invest-in-web3\">with a $1 billion<\/a> mandate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Representatives of Hub71, the technology-innovation-oriented free zone in the International Financial Centre of Abu Dhabi (UAE), announced the Hub71+ Digital Assets initiative. It envisions allocating $2 billion to attract Web3- and blockchain startups.<\/p>\n","protected":false},"author":1,"featured_media":74157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1646,1133,1110],"class_list":["post-74156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-abu-dhabi","tag-venture-investments","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74156"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74156\/revisions"}],"predecessor-version":[{"id":74158,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74156\/revisions\/74158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74157"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}