Sigma Capital, a Web3 investment fund based in the UAE, announced the launch of its $100 million blockchain startup fund to help propel companies relying on decentralized finance, also known as DeFi. Decentralized financeblockchain 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-yielding DeFi strategies to improve the performance of its portfolio.

“We envision a more open, inclusive and innovative digital economy,” Vineet Budke, CEO and managing partner, said in a statement. “This fund empowers startups with capital, provides them with access to our exclusive network and expertise, and enables them to truly thrive in a rapidly changing landscape.”

Budki previously helped lead investments in over 300 projects during his time at Cypher Capital, most notably investments in Sui Blockchain Creator Mysten Labs, Sei Network, Mocaverse by Animoca Brands, and more.

“Vineet’s track record as a visionary leader at Web3 speaks for itself. His deep understanding of market dynamics and insight into nurturing high-impact projects has been pivotal in developing the ecosystem,” Sandeep Naliwal, co-founder of Polygon, said in a statement. Sigma Capital’s $100 million fund is a testament to its expertise and the UAE’s emergence as a global hub for blockchain innovation.”

Sigma Capital works with Web3 centers in 10 cities around the world and has a dual presence in Dubai and Singapore. The company plans to spread investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-funds allocations over the next three years.

Modified by Andrew Hayward