Sigma Capital announced the launch of a $100 million blockchain fund to finance crypto startups. The UAE-based crypto VC firm made the announcement in a recent press release featuring an interview with the founder, Vineet Budki.
Vineeth was previously an executive at Cypher Capital. He helped contribute to over 300 investments, including web3 projects like Sei Network, Manta Network, and Mocaverse.
Now leading Sigma Capital, the veteran venture capitalist aims to raise $100 million to finance firms. These firms would be building in DeFi, gaming, and blockchain infrastructure. According to Budki, Sigma Capital has already raised $40 million in pre-commitments. The firm’s first close will be sealed in June, and the final one will be completed 18 months later. The pre-commitments so far have been from crypto funds, high-net-worth individuals, and angel investors.
According to Sandeep Naliwal, Polygon’s founder, the $100 million fund solidifies the UAE as a global hub for blockchain infrastructure. The public should expect groundbreaking startups from the firm’s investments.
Sigma Capital to Empower Crypto Startups As First Fund Goes Live
Sigma Capital’s $100 million fund is the first fund in the firm to go live. The fund will be geared towards investing in early-stage projects, real-world asset tokenization, the metaverse, and gaming. The firm will also manage a crypto portfolio comprising high-yield liquid token assets, using strategic market opportunities to boost returns.
Speaking on the VC firm’s mission, Budki stated that Sigma Capital is positioned to empower startups with capital and equip them with access to its exclusive network and investment expertise.
Sigma Capital made their investment plans live in a press release, stating that the fund’s investments will be apportioned to 100 early-stage projects, 25 liquid tokens, and 10 fund-of-funds allocations over the next 36 months. The crypto VC firm also plans to collaborate with Web3 hubs across 10 global cities to access comprehensive market insights needed to succeed in the crypto space. Sigma Capital has a solid brand presence in Dubai, the Cayman Islands, and Singapore, where it operates globally.
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