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Iceberg Capital Announces Everscale Partnership to Drive Web3 Growth

Skylar Shaw

Feb 03, 2023 15:10

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The crypto winter and increased lawmaker and regulatory scrutiny put the digital asset space and Web3 into the spotlight in 2022. Fraudulent activity and bankruptcies contributed to a pullback in the mainstream interest and investment in Web3. Iceberg Capital aims to change the dynamic.


Going into 2023, mainstream players and investment funds see an enticing opportunity to refocus attention and redirect funds to the Web 3 space.

Iceberg Capital Announces Everscale Partnership

In January, Abu Dhabi investment fund manager Iceberg Capital announced a strategic alliance with Everscale. Iceberg Capital manages Venom Ventures Fund, a Web3 and blockchain innovation fund. The partnership will empower Everscale, a premier blockchain, to solve scalability issues that have impeded growth across the Web3 space.


Venom Ventures Fund will invest $5 million in Everscale. Everscale will use the funds to expand development teams and ramp up project numbers. Over the last two years, Everscale focused on expanding its reach by integrating its technology solutions across the Asian region.


Venom Ventures Fund has a strategic position within the digital asset space. Venom Foundation partnered with Iceberg Capital Ltd to launch the Venom Ventures Fund, the first officially licensed and regulated Layer-1 blockchain running within the Abu Dhabi Global Market (ADGM).


Everscale uses a sharding technology that offers a practical option for creating large-scale Web3 and other applications. The technology allows Everscale to respond efficiently to varying workloads without limitation.


Importantly, workload magnitudes have no impact on transaction times and processing fees. This attribute makes Everscale a front-runner in supporting high-scale Web3 and other work-intensive projects.

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