DWF Labs, a VC and investment firm, made an announcement that it is moving its headquarters from Singapore to Abu Dhabi (UAE).
Andrei Grachev, the company’s co-founder and CEO shared the announcement via X, citing the firm’s goal to expand its operations in real-world assets (RWA) and financial services in the Middle East.
“In order to build a strong presence in the Middle East and run more RWA and financial services there, @DWFLabs is moving the headquarters to Abu Dhabi” he tweeted.
The firm’s relocation will complement its existing branch in Dubai. DWF Labs runs other offices in Singapore and Switzerland, according to its LinkedIn profile as regional headquarters. The Abu Dhabi headquarters’ connection with the Dubai office and even other locations has not been clarified.
Meanwhile, The UAE especially, Abu Dhabi and Dubai, has turned out to be the next hub for crypto and blockchain startups. Abu Dhabi’s virtual asset sector is focused in the Abu Dhabi Global Market (ADGM) economic zone, and started regulating cryptocurrencies around 2018. The ADGM has its bases in the UK and it has recently adopted new Distributed Ledger Technology (DLT) Foundations Regulations in November 2023.
Moreover, DWF Labs joins companies such as BlackRock and QCP Capital in operating within the ADGM. The firm is also an ecosystem partner of the Dubai Multi Commodities Centre (DMCC) Crypto Centre, alongside major players such as Binance and Solana.
Founded in 2022, DWF Labs was established as an offshoot of a high-frequency trading firm. The company manages a portfolio valued between $72 billion and $77 billion, supporting over 700 projects.
The firm recently launched the Cloudbreak Fund, a $20 million project to support development in sectors such as GameFi, SocialFi, and artificial intelligence.
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