Klumi Ventures, the premier blockchain-native Venture Capital firm based in ADGM (Abu Dhabi Global Market), and The Hex Trust Group,
Hex Technologies Pte Ltd (“Hex Trust”, and together with its affiliates, the “Hex Trust Group”), a leading provider of digital asset solutions for institutional finance, protocols, foundations and Web3 ecosystem have announced a strategic collaboration. The collaboration aims to support Klumi Ventures' regulated Web3 fund, grow its portfolio ecosystem in Abu Dhabi, and strengthen the Web3 market in the UAE.
Both firms have an established presence in the region. In April 2024, Klumi Ventures launched the UAE’s first regulated Web3 Venture Capital firm in Abu Dhabi, receiving a groundbreaking financial license from the FSRA to invest in tokens and equity investments in early-stage blockchain-native startups. Klumi Ventures is set to launch its first fund dedicated to driving Web3 growth and innovation within the region.
In June 2024, Hex Trust Markets announced the issuance of a second VASP license from Dubai’s regulator, VARA. Hex Trust’s licenses in Dubai extend to virtual asset broker-dealer, management and investment services, as well as custodial services.
“Hex Trust stands as one of the cornerstones in the UAE Web3 market, bridging traditional finance and Web3, facilitating on-chain operations while adhering to the most stringent regulatory standards. As the first regulated Web3 VC in Abu Dhabi and UAE, we are thrilled to collaborate with Hex Trust as we have ambitious plans to cultivate and expand the Web3 ecosystem within UAE in anticipation of our inaugural fund” - stated Kristiina Lumeste, Klumi Ventures Senior Executive Officer.
Hex Trust’s services will extend to Klumi Ventures' portfolio projects and partner companies establishing operations in the UAE. The collaboration will focus on several key areas
"We are thrilled to collaborate with Klumi Ventures to support the growth of the Web3 ecosystem in the UAE. By combining our expertise in digital asset custody and compliance with Klumi Ventures' pioneering approach to Web3 investments, we are creating a secure and regulated framework for capital deployment. As the crypto and Web3 industries continue to develop, the UAE's proactive stance towards growth positions it as an attractive destination for crypto businesses, offering significant opportunities in this rapidly evolving sector. .” - Filippo Buzzi, Hex Trust’s Managing Director MENA.
Combined presence in the UAE is testament to the region’s burgeoning status as a global virtual asset hub supported by clear regulatory frameworks and a forward-thinking approach to digital finance and Web3. This partnership ushers in a new era of innovation and opportunities in the region's digital asset ecosystem, as Klumi Ventures and Hex Trust foster growth and empowerment in the Web3 sector.
About Klumi Ventures
Klumi Ventures is the premier Venture Capital Firm based in Abu Dhabi, spearheading blockchain innovation and empowerment in the Middle East. Klumi Ventures holds the distinction of being the region's first blockchain-native Venture Capital Firm and Fund Manager regulated by Abu Dhabi Global Markets. The firm provides comprehensive support to early-stage startups, offering a unique array of strategic advisory, incubation, technical support, legal and compliance expertise, and fund management services. The team focuses on disruptive technologies harnessing blockchain to deliver decentralized, transparent, and secure solutions, driving forward the evolution of the Web3 ecosystem.
For more details on Klumi Ventures, please visit klumiventures.com or follow on Twitter and Linkedin.
About Hex Trust
Established in 2018, Hex Trust is a fully licensed digital asset custodian dedicated to providing services for protocols, foundations, financial institutions, and the Web3 ecosystem. Get access to custody, DeFi, brokerage, and other services built on regulated infrastructure.
For more information, visit hextrust.com or follow Hex Trust on LinkedIn, X and Telegram.
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