Saudi’s First Web3 & Blockchain VC Fund Adaverse Invest in Takadao
Adaverse is a Cardano ecosystem accelerator and seed fund concentrating on scaling Web3 solutions.
Adaverse, Saudi Arabia's initial Web3 and Blockchain Venture Capital Fund, has revealed a strategic investment in Takadao.[1]
Adaverse, a Cardano ecosystem accelerator and seed fund concentrating on scaling Web3 solutions, has marked its entry into Riyadh, becoming the first venture capital fund in Saudi Arabia exclusively focused on early-stage investments in Web3 and blockchain.
The firm, an initiative by EMURGO, a prominent global blockchain technology company, is committed to fostering a global community of entrepreneurs utilizing blockchain technology to address global challenges.
With a portfolio boasting 60 investments across 13 nations, Adaverse is set to inject $10 million into local Web3 startups in 2024.
Established in May 2022, Takadao has carved a niche in decentralized finance, introducing innovative products like Takaturn, a savings and yield generation platform, and Takasure, a cooperative life insurance DAO.