Abu Dhabi - Sharikat Mubasher: The Blockchain Center in Abu Dhabi, a global hub for Web3 technologies, and Gate Ventures launched a $100 million fund, Falcon Gate Ventures, to drive Web3 innovation in the upcoming years.

The fund was designed to empower young talents from the US, Asia, Europe, and the Middle East and North Africa (MENA) region, the center announced in a press release.

This joint venture initiative aims to advance decentralized infrastructure and applications and accelerate the adoption of pioneering technologies.

Falcon Gate Ventures will collaborate with global regulatory authorities to develop frameworks that foster innovation and ensure global user protection.

Commenting on this partnership, Abdulla Al Dhaheri, CEO of the Blockchain Centre in Abu Dhabi, said: “Gate Ventures brings a wealth of experience and a proven track record in the blockchain and digital assets space. Their deep industry expertise, combined with their innovative approach to investing, aligns perfectly with our vision at the Blockchain Centre in Abu Dhabi.”

He further stated that the partnership will accelerate the adoption and impact of blockchain innovations, in the UAE and globally.

Falcon Gate Ventures will provide diversified resources to foster Web3 founders with global aspirations, leveraging the extensive network and expertise of both entities. It also targets discovering and supporting projects poised to shape the future of blockchain technology and digital assets.

Kevin Yang, Managing Partner at Gate Ventures, noted that launching Falcon Gate Ventures represents a significant step in the company’s mission to drive global blockchain innovation.

Moreover, Falcon Gate Ventures aims to accelerate the deployment of blockchain solutions by funding innovative projects and startups worldwide, in addition to building a skilled global workforce by investing in education and research initiatives.