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There is a $100 million seed fund for blockchain and crypto projects in the UAE

Cypher Capital, a venture capital (VC) firm based in the United Arab Emirates (UAE), has announced the launch of a $100 million seed fund focused on decentralized finance (defi), game finance, and metaverse projects.

Entrepreneurial Mentoring

Cypher Capital, a venture capital firm based in the United Arab Emirates (UAE), recently announced the opening of a $100 million seed fund with the goal of financing blockchain and cryptocurrency startups with compelling value propositions.

According to a story released by Unlock Media, the venture capital firm intends to educate entrepreneurs who manage Cypher Capital-funded initiatives. Additionally, the firm will provide entrepreneurs with the resources necessary to thrive, as explained by Bijan Alizadeh, founder and general partner at Cypher Capital, in the report.

Alizadeh also mentioned that his organization intends to invest in blockchain and cryptocurrency initiatives backed by other venture capitalists. As he stated:

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 which, in turn, foster[s] the growth of the ecosystem.

Additionally, funding is available for ‘Innovative Blockchain Projects.’

Vineet Budki, managing partner of Cypher Capital, is also reported in the report as adding that only projects in the decentralized finance (defi), game finance (gamefi), and metaverse space are eligible for investment. Budki added, though, that his organization is “constantly on the hunt for creative blockchain projects in general.”

Meanwhile, according to the same article, Cypher Capital intends to finish construction of its 10,000-square-foot Dubai digital asset hub by August 2022. Once completed, the hub will welcome cryptocurrency lovers and entrepreneurs and will provide members with special access.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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