Klumi Ventures has made history as the pioneer Web3 venture capital firm in the UAE to receive regulation from the Abu Dhabi Global Market (ADGM). The firm has introduced two specialized funds totaling $115 million, with a focus on supporting early-stage Web3 startups and emerging technologies. This move signifies a major milestone in the UAE's digital asset industry, positioning Abu Dhabi as a prominent player in the global digital asset arena.

Through regulatory approval from ADGM, Klumi Ventures has solidified its position as the first Web3 venture capital firm in the UAE. This achievement highlights the firm's dedication to fostering innovation and investment opportunities within the region's digital asset ecosystem, paving the way for growth and empowerment in the Web3 sector.

By launching two specialized funds, Klumi Ventures is taking significant steps to support the growth of Web3 startups. These funds, including a $15 million Qualified Investors Fund for pre-seed and seed investments, and a flagship $100 million fund for emerging technologies, demonstrate Klumi's commitment to driving innovation within the Web3 space. This initiative aims to provide crucial capital and support for startups to expand and achieve their goals effectively.

With the backing of ADGM and the thriving ecosystem in Abu Dhabi, Klumi Ventures is in a prime position to unlock new possibilities for growth and opportunity for Web3 startups. The firm's Senior Executive Officer, Kristiina Lumeste, has emphasized Abu Dhabi's status as a global leader and a hub for innovation in the digital asset industry, offering unparalleled prospects for development and creativity in this sector.

In conclusion, Klumi Ventures' regulatory approval by ADGM signifies a significant advancement in the UAE's digital asset landscape, positioning Abu Dhabi as a key player in the global digital asset market. As the first regulated Web3 venture capital firm in the UAE, Klumi Ventures is poised to play a crucial role in shaping the future of Web3 investment and entrepreneurship within the Middle East and beyond.