Sigma Capital, a Web3 early-stage venture asset manager, has launched a $100million fund, in a move to foster further Web3 innovation across the Middle East.
Sigma Capital Fund I will focus on early-stage venture investments in areas such as DeFi, blockchain infrastructure, real-world asset tokenisation, gaming and the metaverse. The asset manager says that the launch of the fund highlights the UAE’s growing role as a global hub for the Web3 and blockchain sectors.
As part of the Fund, Sigma Capital plans to actively manage a portfolio of liquid tokens, to generate consistent returns. Sigma Capital will also leverage high-yield DeFi strategies to optimise the fund’s portfolio performance and invest in crypto venture funds.
Vineet Budki will lead Sigma Capital as CEO and managing partner and will become the fund’s lead portfolio manager. Budki brings a wealth of experience with him, having been the CEO and managing partner at Cypher Capital, another Web3-native early-stage venture asset manager based in the UAE.
“We envision a digital economy that is more open, inclusive, and innovative,” he explained. “The UAE’s dynamic economy and forward-thinking regulatory environment provide the perfect backdrop for Web3’s next wave of innovation. Sigma Capital Fund I will empower startups with capital, equip them with access to Sigma Capital’s extensive network and investment expertise, and enable them to thrive in the rapidly evolving Web3 landscape.”
The Sigma Capital Investment Team has already partnered with multiple reputed blockchain players such as Polygon Technology, Morningstar Ventures, and Blockchain Founders Fund.
Sandeep Naliwal, founder of Polygon Technology, said: “Vineet’s track record, as a visionary leader in Web3, speaks for itself. His deep understanding of market dynamics and foresight in nurturing high-impact projects has been pivotal in advancing the Web3 ecosystem. The launch of Sigma Capital’s $100million fund is a testament to Vineet’s expertise. I have no doubt this Fund will catalyse the next wave of groundbreaking startups and solidify the region’s role in the decentralised economy.”
Driving GCC Web3 ecosystem growth
Sigma Capital plans to deploy the fund’s investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-fund allocations over the next three years. The firm’s strategic edge lies in its proven expertise and global reach, leveraging its network to provide access to key exchanges, market makers, launchpads and opinion leaders.
The firm will also collaborate with Web3 hubs across 10 global cities, providing the fund’s portfolio companies with deep market insights and comprehensive support to enable success in a competitive market. By combining a diversified portfolio with deep market access, the firm aims to drive sustainable growth in the GCC Web3 ecosystem.
Sigma Capital’s $100million fund launch underscores the UAE’s growing importance as a global epicentre for Web3 and blockchain innovation and institutional capital flows. The firm’s commitment to empowering startups aligns well with the UAE’s strategic vision to lead the decentralised economy, paving the way for the region to become a hub for transformative technologies in financial innovation.
