Abu Dhabi Commits Over $2 Billion to Fund Web3 Startups

Abu Dhabi's tech ecosystem, Hub71, has announced the launch of Hub71+ Digital Assets, a new initiative aimed at advancing Web3 startups and blockchain technologies.

With over $2 billion in capital committed, the initiative will provide Web3 startups with access to a broad range of programs, initiatives, and partners to support their growth. The initiative will be based at Abu Dhabi Global Market (ADGM), where startups will have access to progressive regulatory environments and world-class blockchain and virtual asset infrastructure.

FABRIC, the research and innovation center of First Abu Dhabi Bank (FAB), is the anchor partner of Hub71+ Digital Assets, while digital asset exchanges and service providers will also be part of the initiative. The program will also provide support for startups to relocate to Abu Dhabi and grow in the Middle East and global markets.