Sigma Capital in UAE launches a$ 100 million blockchain startup fund

Sigma Capital, a United Arab Emirates-based Web3 venture fund, announced the launch of its$ 100 million blockchain startup fund to help propel firms building in decentralized finance aka DeFi, blockchain infrastructure, real-world asset tokenization, gaming, and the metaverse.

The bank will rely on early-stage tasks, while actively managing a profile of wet tokens and high-yield DeFi strategies to improve its investment performance. &nbsp,

” We envision a modern economy that is more open, equitable, and innovative”, said CEO and Managing Partner Vineet Budki, in a statement. This fund gives startups access to our unique network and expertise, as well as funding them for their real-world success in a landscape that is rapidly changing, and empowers them with capital.

Budki recently helped guide investments in more than 300 tasks in his day at Cypher Capital, noted by investments in Sui bitcoin father Mysten Labs, Sei Network, Animoca Brands ‘ Mocaverse, and more. &nbsp,

” Vineet’s track record as a visionary leader in Web3 speaks for itself. His strong understanding of business relationships and forethought in nurturing high-impact jobs have been important in advancing the ecosystem”, said Polygon co-founder Sandeep Naliwal, in a speech. ” The launch of Sigma Capital’s$ 100 million fund is a testament to his expertise and the UAE’s emergence as a global hub for blockchain innovation” .&nbsp,

Sigma Capital has a double presence in Dubai and Singapore and collaborates with Web3 centers in ten cities around the world. The company plans to deploy assets across 100 early-stage jobs, 25 wet tokens, and 10 fund-of-fund distributions over the course of the following three years.