DMCC Crypto Centre, VC firm Brinc to provide members access to $150m accelerator fund
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DMCC Crypto Centre, VC firm Brinc to provide members access to $150m accelerator fund

DMCC Crypto Centre, VC firm Brinc to provide members access to $150m accelerator fund

The partnership will support the growth of companies that develop Web3 and blockchain technologies and associated value-added services at the DMCC Crypto Centre

Neesha Salian
DMCC Crypto Centre, Brinc set up $150m accelerator fund

DMCC has partnered with the global VC firm Brinc to provide DMCC Crypto Centre members access to Brinc’s $150m accelerator fund.

Brinc is a portfolio company of Animoca Brands, a global leader in Web3 and blockchain investment.

Crypto Centre members will now also gain access to Brinc’s global network of innovative startups as well as business mentoring services from their new office in DMCC.

The DMCC Crypto Centre has attracted over 450 crypto firms since its launch in 2021. These firms operate across financial services, healthcare, entertainment, gaming and sustainability.

Ahmed Bin Sulayem, executive chairman and CEO, DMCC, said: “We are proud to be partnering with one of the world’s leading VC firms in this space, and to meet the growing demand from our members to access funding, while also providing access to Brinc’s well-connected ecosystem. With so many global challenges occurring simultaneously, major businesses are focused more than ever on accessing state-of-the-art infrastructure within a comfortable working environment, which is exactly what DMCC strives to provide.”

Manav Gupta, founder and CEO of Brinc, said: “The newly launched Dubai Metaverse Strategy aims to support over 40,000 virtual jobs by 2030; while Dubai’s plan to use cutting-edge technology to improve efficiency and sustainability vastly appeals to Brinc, whose mandate since inception has been to discover and enhance businesses that creatively solve global problems.

“Our partnership with the DMCC will reveal a new pool of Web3 entrepreneurs and enable us to identify, empower, and invest in startups that shape the future based on a shared thesis and set of ideals.”

Yasin Aboudaoud, chief development officer and MP of Brinc MENA, said: “Collaborating with the DMCC and its vibrant community at a time when MENA is welcoming blockchain and digital asset innovation is a hugely exciting prospect. The ability to build networks in Web3 – where community is king – will be invaluable to our mission.”

In other news, in H1 2022, DMCC welcomed 1,469 new member companies. Over 14 per cent of these new company registrations were related to crypto activities.

Read: Dubai’s DMCC reports record H1 2022 performance, registers 1,469 firms

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