Sigma Capital, a UAE-based Web3 venture capital fund, announced the launch of its $100 million blockchain seed fund to help propel companies expanding into decentralized finance, also known as of DeFi, blockchain infrastructure, tokenization of real-world assets, gaming and the metaverse.
The fund will focus on early-stage projects, while actively managing a portfolio of high-yielding liquid tokens and DeFi strategies to optimize its portfolio performance.
“We envision a more open, inclusive and innovative digital economy,” Vineet Budki, CEO and managing partner, said in a statement. “This fund gives capital to startups, gives them access to our proprietary network and expertise, and allows them to truly thrive in an ever-changing landscape.”
Budki has already helped lead investments in over 300 projects during his tenure at Cypher Capital, highlighted by investments in blockchain creator Sui, Mysten Labs, Sei Network, Animoca Brands’ Mocaverse, and more .
“Vineet’s experience as a visionary Web3 leader speaks for itself. His deep understanding of market dynamics and foresight in developing high-impact projects have been critical to the advancement of the ecosystem,” Polygon co-founder Sandeep Naliwal said in a statement. “The launch of Sigma Capital’s $100 million fund is a testament to its expertise and the UAE’s emergence as a global hub for blockchain innovation.”
Sigma Capital works with Web3 hubs in 10 cities around the world and has dual presence in Dubai and Singapore. The company plans to deploy investments in 100 early-stage projects, 25 liquid tokens, and 10 fund-of-fund allocations over the next three years.
Edited by Andrew Hayward
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