Gate Ventures and The Blockchain Center in Abu Dhabi have announced the launch of Falcon Gate Ventures, a $100 million fund dedicated to investing in global blockchain innovation.

This initiative aligns with the UAE's vision to become a leader in the digital economy and strengthen its position as a hub for blockchain innovation.

The fund, unveiled on August 19, aims to advance decentralized infrastructure and accelerate the adoption of groundbreaking technologies.

Falcon Gate Ventures will target high-potential projects across the U.S., Asia, Europe, and the MENA region to support Web3 builders.

The initiative is designed to foster innovation, support education and research, and facilitate cross-border collaboration in the blockchain space.

By stimulating growth within the Web3 ecosystem, the fund is expected to enhance the UAE's role as a central hub in the international digital economy.

Abdulla Al Dhaheri, CEO of the Blockchain Center, highlighted the synergy between Gate Ventures' expertise and the Blockchain Center's vision to scale high-potential blockchain initiatives.

Falcon Gate Ventures plans to collaborate with international regulatory authorities to develop frameworks that encourage innovation while ensuring user protection.

The Blockchain Center aims to create a thriving ecosystem for startups, enterprises, and academia, focusing on incubation, venture capital, education, consultancy, and events.

Kevin Yang, managing partner at Gate Ventures, stated that the fund represents a significant step in advancing global blockchain innovation and enhancing blockchain innovation worldwide.

A recent ruling by the Dubai Court has recognized the legitimacy of receiving salaries in cryptocurrency, reflecting a shift in the UAE's legal approach to digital assets.