Token Bay Capital Lands Historic License to Invest in Crypto Start-ups in Abu Dhabi Global Market

Venture Capital Fund Manager Token Bay Capital has been granted in-principle approval by the Financial Services Regulatory Authority (FSRA) to carry out regulated activities in the Abu Dhabi Global Market (ADGM). This approval, which is subject to final regulatory approval, will enable Token Bay to manage both token and equity investments in early-stage crypto start-ups under the FSRA's Venture Capital Fund Manager (VCFM) framework.

Token Bay Capital Secures Groundbreaking License to Invest in Crypto Start-ups' Equity and Tokens in Abu Dhabi Global Market

Abu Dhabi, UAE - April 18, 2024 - In a groundbreaking move, Token Bay Capital Limited ("Token Bay"), a renowned Crypto Venture Capital Fund, has received an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) to operate within the Abu Dhabi Global Market (ADGM). This license marks the first of its kind, granting Token Bay the unique ability to invest in both the equity and tokens of early-stage crypto start-ups under the FSRA's Venture Capital Fund Manager (VCFM) framework.

Founded in 2021, Token Bay has consistently demonstrated its commitment to regulatory compliance, setting it apart as an industry leader. As a testament to this approach, the company's application for a Financial Services Permission (FSP) from the FSRA has been met with positive feedback. Upon final regulatory approval, Token Bay will bring its specialized expertise to ADGM, offering a comprehensive suite of services to support the growth of promising crypto ventures.

"We are thrilled to have received this IPA from the FSRA, marking a significant milestone in our global expansion strategy," said Lucy Gazmararian, Founder and Managing Partner of Token Bay Capital. "The progressive regulatory framework and dynamic digital assets ecosystem in Abu Dhabi make it an ideal location for us to establish a presence and contribute to the growth of Web3 innovation."

Token Bay's investment strategy focuses on start-ups developing next-generation blockchain infrastructure and decentralized applications for Web3. Recognizing the potential of tokenization to drive innovation, the company's unique license allows it to participate directly in blockchain networks and acquire ownership stakes through tokens.

"We believe that blockchain technology has the power to transform industries and create new economic opportunities," Gazmararian continued. "As venture capitalists, we are committed to supporting talented founders who are building the infrastructure for the new token economy. By investing in both equity and tokens, we can provide comprehensive support and maximize returns for our investors."

Token Bay's decision to establish offices in Abu Dhabi underscores the emirate's emergence as a global hub for digital assets and financial innovation. ADGM's progressive regulatory framework, based on English common law, provides a supportive environment for companies operating in the virtual asset space.

Arvind Ramamurthy, Chief of Market Development at ADGM, welcomed Token Bay's arrival. "We are delighted to welcome Token Bay Capital to ADGM's vibrant financial ecosystem," he said. "ADGM's commitment to fostering innovation and excellence aligns perfectly with Token Bay's mission. We are confident that their presence will contribute to the growth of the crypto and digital assets sector in Abu Dhabi and beyond."

Token Bay's Venture Funds offer institutional investors, multinational corporations, private banks, family offices, and high-net-worth individuals the opportunity to participate in the emerging digital assets market. The company's expertise in identifying and supporting promising start-ups provides investors with access to a unique and potentially lucrative asset class.

As the global economy undergoes a digital transformation, Token Bay Capital is uniquely positioned to play a pivotal role in shaping the future of finance. The company's groundbreaking license in Abu Dhabi Global Market sets a new standard for venture capital investment in the crypto space, paving the way for a new era of innovation and growth.