Gate Ventures (crypto exchange Gate.io’s VC arm) and Abu Dhabi Blockchain Center partnered to launch Falcon Gate Ventures, a $100 million fund supporting Web3 innovation. The fund aims to stimulate global Web3 growth and solidify the United Arab Emirates’ position as a digital economy hub. The collaboration will leverage expertise from both parties and involves working with regulators to ensure user protection and foster innovation.
Fund to Support High-Potential Projects
Gate Ventures, the venture capital arm of cryptocurrency exchange Gate.io, has partnered with the Abu Dhabi Blockchain Center to launch a $100 million Web3 innovation fund called Falcon Gate Ventures. The fund aims to support Web3 builders working to reshape the digital world.
A joint statement from both organizations emphasizes their commitment to using their expertise and resources to assist talented young developers in key regions like North America, Asia, Europe, and the Middle East and North Africa (MENA). While Falcon Gate Ventures is expected to focus on high-potential projects with a specific interest in “technical breakthroughs.”
Beyond supporting innovation, the fund aims to stimulate growth within the global Web3 ecosystem and solidify the United Arab Emirates (UAE) position as a hub for the digital economy. Additionally, Falcon Gate Ventures plans to collaborate with regulators to develop frameworks that balance fostering innovation with ensuring user protection.
Abu Dhabi Blockchain Center CEO Abdulla Al Dhaheri praised the partnership with Gate Ventures, saying it will bring valuable blockchain and digital asset expertise.
“We believe that together, we can create a powerful synergy that will drive forward our mission to support and scale high-potential blockchain projects. Gate Ventures shares our commitment to fostering cutting-edge technologies, and with their global network and insights, we are confident that this partnership will accelerate the adoption and impact of blockchain innovations, both in the UAE and internationally,” Abdulla said.
Gate Ventures Managing Partner Kevin Yang said the collaboration with the Blockchain Center is a significant step toward advancing blockchain innovation.
