Quick take:
- The company plans to deploy the fund across 100 early-stage projects, 25 liquid tokens and 10 funds over the next three years.
- Sigma is led by Vineet Budki, the former CEO and managing partner of Cypher Capital.
- The company wants to capitalise on the UAE’s clearer regulatory framework for digital assets.
Sigma Capital has launched a $100 million Web3 fund to invest in early-stage crypto startups. The company plans to deploy the fund across 100 early-stage projects, 25 liquid tokens and 10 funds over the next three years.
According to the announcement, Sigma primarily targets decentralised finance, blockchain infrastructure, gaming, and real-world asset tokenisation opportunities.
The announcement comes as more crypto companies continue to receive approval from UAE regulators for providing crypto trading services. Some of the more notable ones include Binance, OKX and Coinbase. The UAE has emerged as a major crypto hub over the past few years due to its clear regulatory framework for digital assets as it positions itself to compete with the likes of Hong Kong and Singapore.
Sigma Capital is led by the former Vineet Budki, the former CEO and managing partner of Cypher Capital. The company also has regulatory oversight from the Cayman Islands.
Commenting on the announcement, Budki said in a statement: “This fund empowers startups with capital and equips them with access to our extensive network and expertise, and enables them to adapt in a rapidly evolving landscape.”
The company seeks to collaborate with crypto hubs across 10 cities as it aims to drive growth both globally and in the GCC Web3 ecosystem.
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