UAE-Based Sigma Capital Launches US$100 Million Fund to Help Catalyze Web3 Innovation in the Region Vineet Budki, a recognized leader in the Web3 space, will lead the fund.

Sigma Capital, a Web3 early-stage venture capital (VC) firm that operates across the GCC, has announced the launch of a US$100 million fund dedicated towards accelerating Web3 innovation in the Middle East and globally.

The fund will focus on early-stage venture investments in areas such as decentralized finance (DeFi), blockchain infrastructure, real-world asset tokenization, gaming and the metaverse. Sigma Capital will thus actively manage a portfolio of liquid tokens, with an aim to seize market opportunities that can generate consistent returns. The fund will also leverage high-yield DeFi strategies to optimize portfolio performance and invest in high growth crypto venture funds that broaden exposure to emerging innovations.

Vineet Budki, a recognized leader in the Web3 space, will lead the fund. In his role as the former CEO and Managing Partner at Cypher Capital, a UAE-based Web3-native VC firm, Budki spearheaded over 300 investments in high-profile projects, including Mysten Labs, Sei Network, Casper Labs, Web3Auth, Casper labs, Manta network, Mocaverse, Peak network and MyPetHooligan. "We envision a digital economy that is more open, inclusive, and innovative," Budki said in a statement. "The UAE's dynamic economy and forward-thinking regulatory environment provide the perfect backdrop for Web3 innovation. This fund empowers startups with capital, equips them with access to our extensive network and expertise, and enables them to thrive in a rapidly evolving landscape."

Following this announcement, Sigma Capital plans to deploy 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, exchanges, launchpads and opinion leaders. Indeed, since its inception, the Sigma Capital team has amassed years of experience in the blockchain investing space and have been invested in or partnered with multiple players in the blockchain space including Polygon Technology, Morningstar Ventures, Blockchain Founders Fund, Woodstock Fund and many others.

Additionally, the firm's dual presence in Dubai and Singapore, coupled with regulatory oversight from the Cayman Islands, has enabled it access to global opportunities while maintaining a strong compliance framework.

In a statement following the launch of Sigma Capital's $100 million fund, Sandeep Naliwal, founder of the aforementioned Polygon Technology, lauded Budki's "deep understanding of market dynamics and foresight in nurturing high-impact projects." "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," Naliwal added. "I have no doubt this fund will catalyze the next wave of groundbreaking startups and solidify the region's role in the decentralized economy."

Sigma Capital collaborates with Web3 hubs across 10 global cities, providing portfolio companies with deep market insights and comprehensive support to enable success in a competitive market. By combining a diversified approach with deep market access, the VC firm aims to drive sustainable growth in both the global and GCC Web3 ecosystems.