Venom Foundation and Iceberg Capital have teamed up to launch a $1 billion venture fund focused on Web3 technologies. The fund will target startups working on blockchain, cryptocurrency, and decentralized finance (DeFi) applications.

The new fund, called Venom Ventures Fund (VVF), will invest in companies at all stages of development, from seed to late-stage, with a particular focus on early-stage startups. The two companies plan to collaborate closely on the fund and leverage their expertise in blockchain technology and venture capital to identify promising investment opportunities.

This new fund is anticipated to provide a significant boost to the Web3 ecosystem, particularly for startups working on blockchain and cryptocurrency technologies. It could also signal an increased interest in Web3 applications from traditional venture capital firms who may follow suit and launch their own Web3-focused funds.

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