Sigma Capital initiates a new $100 million investment fund, focusing on seed-level web3 ventures.
Sigma Capital Launches $100 Million Web3 Fund for Crypto Startups
Sigma Capital, a fund operating under regulatory oversight from the Cayman Islands, has announced the launch of a new $100 million Web3 fund aimed at investing in early-stage crypto startups. The fund, led by Vineet Budki, the former CEO and managing partner of Cypher Capital, will focus on ventures in areas such as decentralized finance (DeFi) and blockchain technologies.
The fund's goal is to accelerate growth within the Web3 ecosystem by backing innovative startups primarily in these sectors. Sigma Capital aims to collaborate with crypto hubs in 10 cities to drive growth in the global and GCC Web3 ecosystem. However, no details have been provided about the specific projects or funds that Sigma Capital plans to collaborate with in these cities.
The UAE, where Sigma Capital operates, has emerged as a major crypto hub due to its clear regulatory framework for digital assets. Binance, OKX, and Coinbase are among the crypto companies that have received approval from UAE regulators for providing crypto trading services. The UAE positions itself to compete with Hong Kong and Singapore in the digital asset sector.
Sigma Capital primarily targets opportunities in decentralised finance, blockchain infrastructure, gaming, and real-world asset tokenisation. The fund will be deployed across 100 early-stage projects, 25 liquid tokens, and 10 funds over the next three years. However, no details have been given about the financial terms or conditions of Sigma Capital's collaborations with crypto hubs in the 10 cities.
In a statement about the new fund, Budki said it empowers startups with capital, network, and expertise. The exact cities where Sigma Capital plans to collaborate have not been specified. The fund does not have specific details about these cities either. The timeline for Sigma Capital's collaborations with crypto hubs in the 10 cities is also not clear.
Despite the lack of specific details, Sigma Capital's goals indicate a focus on expanding its presence and influence in the global and GCC Web3 ecosystem. As the fund begins its investments, more details about its collaborations and investments are expected to emerge.
The Web3 fund launched by Sigma Capital will invest primarily in startups specializing in decentralized finance, blockchain infrastructure, gaming, and real-world asset tokenization, as reported in the latest financial news. In line with their goals, Sigma Capital aims to collaborate with crypto hubs in 10 cities to drive growth within the global and GCC Web3 news ecosystem, focusing on ventures in areas like technology and investing.
