Nümi, a worldwide metaverse platform for thought leaders, followers, and innovators, raised $20 million from the Venom Ventures Fund.

Venom Foundation announced the launch of its first venture fund, Venom Ventures Fund (VVF), focused on investing in blockchain projects and Web3 DApps. The initial investment for the fund is Nümi Metaverse.

Nümi is set to debut on VR headsets by the end of the year, followed by PCs and mobile devices in 2024.

The formation of the VVF fund was through a collaborative effort with Iceberg Capital, a fast-growing alternative asset management company that provides diversified investment management platforms, including direct and private equity, venture capital, technology, and virtual assets.

The fund invests up to $1 billion in innovative Web3 startups out of ADGM. The venture team consists of seasoned experts from both the traditional and blockchain industries. They are both traders and venture capitalists, and they hail from prestigious financial institutions like Blackrock and Iceberg Capital.

The incubation program offered by Venom Ventures Fund provides access to valuable assets like a global network, exchange support, marketing, market making, technology, legal, and regulatory assistance.