Token Bay Capital Limited (“Token Bay”) is broadening its venture capital presence in the capital of the UAE and has received an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) to conduct regulated activities in the ADGM. Pending final regulatory approval for the grant of the Financial Services Permission (FSP), Token Bay brings specialized capabilities to manage both token and equity investments in early-stage crypto start-ups within the FSRA’s Venture Capital Fund Manager (VCFM) framework.
Established in 2021, Token Bay is a prominent Crypto Venture Capital Fund that has embraced a regulatory-first approach since its inception. Token Bay invests in start-ups developing next-generation blockchain infrastructure and decentralized applications for Web3. Expanding on the success of its inaugural fund, Token Bay is now launching its second fund and will persist in supporting exceptional entrepreneurs constructing infrastructure solutions for the emerging token economy. Alongside Abu Dhabi, Token Bay maintains offices in Hong Kong, strategically positioning itself across digital assets hubs in both the Middle East and Asia.
Founder and Managing Partner of Token Bay, Lucy Gazmararian, remarked, “This signifies the initial phase of global expansion for Token Bay, and we’re thrilled to have received the IPA in ADGM for venture capital investment in tokens as well as in equity. Blockchain technology holds the potential to propel innovation through tokenization, and as blockchain networks continue to advance, it is imperative that as venture capitalists, we are fully equipped to assist talented founders building in Web3 by directly engaging in these networks and acquiring an ownership stake through tokens. We express our utmost gratitude to the regulator for their forward-thinking approach and transparent dialogue, enabling us to achieve this significant milestone and establish Token Bay in one of the world’s foremost international financial centers and digital assets hubs.”
ADGM’s forward-looking regulatory framework, English common law legal system, status as a leading hub for financial innovation, and dynamic blockchain and digital assets ecosystem have enticed Token Bay to establish offices in the capital of the UAE.
Arvind Ramamurthy, Chief of Market Development at ADGM, stated, “We extend a warm welcome to Token Bay Capital as they join ADGM’s international financial center and embark on their establishment in Abu Dhabi, marking the commencement of their global expansion journey. ADGM is committed to fostering innovation and excellence in the financial sector, particularly within the virtual asset space. With progressive regulatory frameworks that facilitate firms like Token Bay Capital, ADGM’s vibrant ecosystem serves as the ideal platform for initiating their global growth trajectory.”
Token Bay’s Venture Funds provide institutions, multinational corporations, private banks, family offices, and high-net-worth individuals with the opportunity to invest in an emerging asset class right at the outset of a multi-decade cycle.
