Gulf-based Sigma Capital has introduced a $100 million fund to invest in web3 sectors, from blockchain infrastructure to the metaverse.

Sigma Capital, a private equity firm specializing in early-stage startups, announced the launch of a $100 million fund to catalyze web3 innovations. The so-called “Sigma Capital I Fund” will focus on projects in... Decentralized financeblockchain infrastructure, real-world asset tokenization, gaming, and even... MetaverseThe company said on January 14 press release.

“In addition, as part of the fund, Sigma Capital will actively manage a portfolio of liquid tokens, seizing market opportunities to generate consistent returns.”

Sigma Capital

Through the fund, the company says it plans to invest in 100 early-stage startups, 25 liquid tokens, and 10 funds of funds over the next three years. It will also use high-yield DeFi strategies to "improve the fund's portfolio performance and invest in high-growth cryptocurrency venture funds that expand the fund's exposure to emerging web3 innovations."

The fund will be led by Vineet Budke, CEO and Managing Partner of the company. Commenting on the initiative, Budke said the company envisions a “more open, inclusive and innovative” digital economy. He added that the UAE's economy and regulatory environment "provide the ideal backdrop for the next wave of innovation in Web3."

The company did not detail how it will select startups but plans to work with web3 centers in 10 cities around the world to provide insights and market support, the press release said.