Gulf-based Sigma Capital has launched 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, has announced the launch of a $100 million fund to fuel web3 innovation. The so-called “Sigma Capital Fund I” will focus on projects in decentralized finance, blockchain infrastructure, real-world asset tokenization, gaming and even the metaverse, the company said in a Jan. 14 report. press release.
“In addition, as part of the fund, Sigma Capital will actively manage a portfolio of liquid tokens, leveraging market opportunities to generate consistent returns.”
Sigma Capital
With the fund, the company says it plans to invest in 100 early-stage startups, 25 liquid tokens and 10 fund-of-funds over the next three years. It will also leverage high-yield strategies in decentralized finance to “optimize the fund’s portfolio performance and will invest in high-growth crypto venture funds that increase the fund’s exposure to emerging web3 innovations.”
Vineet Budki, CEO and managing partner of the firm, will lead the fund. Commenting on the initiative, Budki said the company envisions a digital economy “that is more open, inclusive and innovative.” He added that the UAE’s economy and regulatory environment “provide the perfect backdrop for web3’s next wave of innovation.”
The company has not yet detailed how it will choose startups, but plans to work with web3 hubs in ten cities around the world to provide market insights and support, the press release said.
