According to BlockBeats, Klumi Ventures announced on May 2nd that it has received a financial license from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). This license allows the company to invest in tokens and make equity investments in early-stage Web3 startups.
Klumi Ventures is launching two dedicated funds. A $15 million Qualified Investor Fund will be used for pre-seed and seed investments, providing crucial capital and support to early-stage Web3 startups to realize their vision and effectively expand their operations.
The flagship fund, worth $100 million, is specifically tailored for emerging technologies and the decentralized industry. This move by Klumi Ventures is a significant step towards supporting and fostering the growth of early-stage Web3 startups and the decentralized industry.