Sigma Capital, a United Arab Emirates-based Web3 venture fund, announced the launch of its $100 million blockchain startup fund to help propel firms building in decentralized finance aka DeFi, blockchain infrastructure, real-world asset tokenization, gaming, and the metaverse.

The fund will focus on early-stage projects, while actively managing a portfolio of liquid tokens and high-yield DeFi strategies to optimize its portfolio performance. 

“We envision a digital economy that is more open, inclusive, and innovative,” said CEO and Managing Partner Vineet Budki, in a statement. “This fund empowers startups with capital, equips them with access to our exclusive network and expertise, and enables them to really thrive in a rapidly involving landscape.”

Budki previously helped lead investments in more than 300 projects in his time at Cypher Capital, highlighted by investments in Sui blockchain creator Mysten Labs, Sei Network, Animoca Brands' Mocaverse, and more. 

“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 have been pivotal in advancing the ecosystem,” said Polygon co-founder Sandeep Naliwal, in a statement. “The launch of Sigma Capital’s $100 million fund is a testament to his expertise and the UAE’s emergence as a global hub for blockchain innovation.” 

Sigma Capital works with Web3 hubs in 10 cities around the globe and holds a dual presence in Dubai and Singapore. The firm plans to deploy investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-fund allocations over the course of the next three years.

Edited by Andrew Hayward