The UAE-based private VC firm Cypher Capital has launched one of the region's biggest seed funds, PR News Wire reported. The fund, which amounts to $100 million, will focus on investments in crypto, blockchain, and other valuable digital asset projects.
The firm will develop its portfolio using an entrepreneurial approach. While its focus will be on seed funding, it will also take stakes in GPs and LPs.
Cypher invested $1.5M in Crypto Oasis Sentio
Cypher believes collaboration with other private VC firms helps perfect the blockchain ecosystem. This belief is reflected in a $1.5 million investment in Crypto Oasis Sentio.
Bijan Alizadeh, Founder and General Partner at Cypher Capital commented:
We are very proud and honored to be launching our first and the biggest crypto, digital asset, and blockchain private seed fund from the UAE and the Middle East Region. This fund reflects our vision to be the leading global partner for projects in the blockchain, crypto, and digital asset community. We will collaborate closely with our portfolio projects, offering them access to our network and equipping them with our knowledge, as well as investing alongside other venture capital partners into innovative blockchain, crypto, and digital asset projects.
Bijan is an experienced blockchain and crypto with an impressive track record of spearheading crypto and blockchain adoption. He has completed more than 60 investment projects. He added:
We aim to cooperate with and expand the ecosystem by working with visionary innovators, outstanding talent, and other venture capital partners to create a holistic blockchain community that will, in turn, foster the growth of the ecosystem.
A pragmatic, hands-on approach
When it comes to mentoring and equipping entrepreneurs, Cypher Capital plans to take a very hands-on approach. They expect to complete a 10,000 square foot blockchain, crypto, and digital asset hub in Dubai in August 2022.
It will welcome crypto startups, enthusiasts, and fans and provide exclusive access for community members.
Vineet Budki, Managing Partner of Cypher Capital said:
We have the knowledge and expertise to mentor projects and entrepreneurs and equip them with the tools they need for success. At the moment, we are especially interested in projects in the DeFi, GameFi, and metaverse space, but we are always on the lookout for innovative blockchain projects in general.