Sigma Capital Launches $100M Fund to Drive Web3 Innovation
Funding | Jan 14, 2025 | Zawya
Sigma Capital, a UAE-based venture asset manager specializing in Web3 advancement, has announced the launch of 'Sigma Capital Fund I', a $100 million fund dedicated to advancing Web3 innovation both in the Middle East and globally. The fund will focus on early-stage Web3 startups, liquid tokens, and fund-of-fund allocations, targeting transformative areas including decentralized finance (DeFi), blockchain infrastructure, and the metaverse. Led by CEO Vineet Budki, the fund seeks to leverage strategic global partnerships to foster sustainable growth in the Web3 ecosystem. Through the fund, Sigma Capital plans to back 100 early-stage projects in addition to managing a portfolio of liquid tokens and engaging in high-yield DeFi strategies. The launch underscores UAE's growing stature as a global hub for blockchain and Web3 innovation.
Sectors
- Venture Capital
- Blockchain
- Technology
Geography
- United Arab Emirates – The article is centered around Sigma Capital's activities and the impact of the UAE as a growing global hub for Web3 and blockchain.
- Global – Sigma Capital is leveraging international partnerships and aiming for a worldwide impact on Web3 innovation.
Industry
- Venture Capital – The article revolves around Sigma Capital's venture capital activities, specifically targeting early-stage Web3 startups and innovation.
- Blockchain – Sigma Capital's fund focus on the rapidly expanding Web3 and blockchain sectors, indicating its main industry plays.
- Technology – The fund intends to drive technological innovations in the Web3, blockchain and metaverse fields.
Financials
- $100 million – The amount allocated by Sigma Capital Fund I to advance early-stage Web3 innovation.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sigma Capital | Fund Manager | Company | A global venture asset manager focused on Web3 and blockchain innovations, launching Sigma Capital Fund I. |
| Vineet Budki | CEO & Managing Partner | Person | A Web3 pioneer leading Sigma Capital, with a history of significant investments in the blockchain space. |
| Cypher Capital | Former Role of CEO | Company | Vineet Budki's former company involved in Web3 investments. |
| Polygon Technology | Partner | Company | A major blockchain entity mentioned as one of Sigma Capital's partners in investment efforts. |
| Morningstar Ventures | Partner | Company | A blockchain venture supporting Sigma Capital's goals for transformative Web3 projects. |
| Blockchain Founders Fund | Partner | Company | Participates in strategic partnerships with Sigma Capital to support blockchain-focused initiatives. |