Cypher Capital, a private venture capital firm rooted in the UAE, has announced the launch of one of the region’s biggest seed funds.
The $100 million seed fund will focus on investments in blockchain, crypto and other digital asset projects who have genuine value propositions, a statement said.
“We are very proud and honored to be launching our first and the biggest crypto, digital asset and blockchain private seed fund from the UAE and the Middle East Region.” said Bijan Alizadeh, founder and general partner at Cypher Capital.
Alizadeh is an experienced crypto and blockchain investor with more than 60 projects under his belt and a strong track record of spearheading blockchain and crypto adoption, the statement said.
“This fund reflects our vision to be the leading global partner for projects in the blockchain, crypto and the digital asset community. We will collaborate closely with our portfolio projects, offering them access to our network and equipping them with our knowledge, as well as investing alongside other venture capital partners into innovative blockchain, crypto and digital asset projects,” he said.
Cypher Capital added that it will take an entrepreneurial approach to building its portfolio and will focus on seed funding.
The company has already invested $1.5 million into Crypto Oasis Sentio. “We aim to cooperate with and expand the ecosystem by working with visionary innovators, outstanding talent and other venture capital partners to create a holistic blockchain community with will in turn, foster the growth of the ecosystem,” added Alizadeh.
He said he has his sights set on making Cypher Capital an industry leader by working alongside other industry innovators.
He added that Cypher Capital also plans to take a hands-on approach when it comes to mentoring the projects that it invests in and equipping entrepreneurs with the tools they need to succeed.
Its crypto, blockchain and digital asset hub, under construction in JBR Dubai, is set to be completed in August when it will welcome crypto enthusiasts, entrepreneurs and start-ups.
Vineet Budki, managing partner of Cypher Capital, said: “We have the knowledge and expertise to mentor projects and entrepreneurs and equip them with the tools they need for success. At the moment we are especially interested in projects in the DeFi (decentralised finance), GameFi and metaverse space but we are always on the lookout for innovative blockchain projects in general.”
A PwC report revealed that $34 billion was raised by crypto companies globally in 2021.
Follow us on
