Cypher Capital, a United Arab Emirates (UAE)-based venture capital (VC) firm, has announced the launch of a $100 million seed fund that will primarily avail funding to decentralized finance (defi), gamefi, and metaverse projects.
Entrepreneur mentoring
A United Arab Emirates (UAE)-based venture capital firm, Cypher Capital, recently announced the launch of a $100 million seed fund whose goal is to fund blockchain and crypto projects with real value propositions.
As explained in a report published by Unlock Media, the VC firm is planning to be involved in the mentoring of entrepreneurs who run projects which are funded by Cypher Capital. In addition, the firm will to equip the entrepreneurs with the tools they need to succeed, Bijan Alizadeh, founder and general partner at Cypher Capital, is quoted in the report explaining.
Alizadeh also revealed that her company plans to invest in blockchain and crypto projects that have received support from other venture capitalists. He said:
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 which, in turn, foster[s] the growth of the ecosystem.
Funding also open to “innovative blockchain projects”
Cypher Capital managing partner Vineet Budki is also quoted in the report stating that only projects in decentralized finance (defi), gamefi and the metaverse space are eligible to receive funding. However, Budki clarified that his company is “always on the lookout for innovative blockchain projects in general.”
Meanwhile, the same report states that Cypher Capital expects to complete the construction of its 10,000 square-foot Dubai digital asset hub sometime in August 2022. Once complete, the hub will welcome crypto enthusiasts and entrepreneurs and offer exclusive access to members.
