UAE’s Sigma Capital backs Web3 growth with $100 million fund
Sigma Capital, a well-known name in Web3 early-stage venture investments, has introduced a $100 million fund, Sigma Capital Fund I, to drive Web3 innovation in the Middle East.
The milestone also highlights the UAE’s growing prominence as a leader in the Web3 and blockchain sectors.
The fund focuses on early-stage ventures in areas like decentralised finance (DeFi), blockchain infrastructure, real-world asset tokenisation, gaming, and the metaverse. As part of its strategy, Sigma Capital intends to manage a portfolio of liquid tokens, capitalising on opportunities in that market.
Sigma Capital will integrate high-yield DeFi strategies and invest in cryptocurrency venture funds it sees as promising, ensuring broad exposure to emerging Web3 innovations.
Vineet Budki, CEO and Managing Partner, has experience in managing over 300 investments while at Cypher Capital, another Web3 venture asset manager in the UAE. He has also worked with Mysten Labs, Sei Network, and Casper Labs. Vineet is backed by an investment team that has partnered with big names in the blockchain industry, like Polygon Technology, Morningstar Ventures, and Blockchain Founders.
Vineet said, “The UAE’s dynamic economy and forward-thinking regulatory environment provide the perfect backdrop for Web3’s next wave of innovation. Sigma Capital Fund I will empower startups with capital, connect them to Sigma Capital’s extensive network and investment expertise, and enable them to thrive in the rapidly evolving Web3 landscape.”
Sandeep Nailwal, co-founder of Polygon Technology, commented on the announcement: “Vineet’s track record as a visionary leader in Web3 speaks for itself. His deep understanding of market dynamics and foresight in nurturing high-impact projects have been pivotal in advancing the Web3 ecosystem. The launch of Sigma Capital’s $100 million fund is a testament to Vineet’s expertise and to the UAE’s emergence as a global hub for blockchain innovation. The fund will catalyse the next wave of groundbreaking startups and solidify the region’s role in the decentralised economy.”
Sigma Capital plans to deploy its investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-funds allocations over the next three years. The firm provides portfolio companies access to leading exchanges, market makers, launchpads, and key industry leaders.
Sigma Capital intends to collaborate with Web3 hubs in ten cities worldwide. The partnerships will offer portfolio companies market insights and support. Sigma Capital’s goal is to drive growth in the global and GCC Web3 ecosystem by blending a diversified portfolio with easy market access.
With offices in Dubai, Singapore, and the Cayman Islands, Sigma Capital is positioned to investigate opportunities and adhere to compliance standards.
The launch of the $100 million fund reinforces the UAE’s standing as a notable player in Web3 and institutional capital flows. Sigma Capital’s focus on startups aligns with the UAE’s broader vision of becoming a global hub for transformative technologies and decentralised finance.
(Photo by Unsplash)
See also: Malaysia eyes blockchain innovation, taking notes from the UAE
Want to learn more about blockchain from industry leaders?Check out Blockchain Expo taking place in Amsterdam, California and London.
Explore other upcoming enterprise technology events and webinars powered by TechForge here.
