Sigma Capital Unveils $100 Million Fund for Web3 Startups

Early-Stage Venture Firm Targets Decentralized Finance, Tokenization, and Blockchain Infrastructure

Sigma Capital, a Dubai-based early-stage venture firm, has announced the launch of a $100 million fund focused on Web3 startups. The fund aims to capitalize on the United Arab Emirates’ (UAE) reputation as a crypto hub, according to an emailed announcement on Tuesday.

Fund Focus

The fund will focus on decentralized finance (DeFi), tokenization, and blockchain infrastructure by managing a portfolio of liquid tokens. This strategic move is expected to tap into the growing demand for Web3 solutions and capitalize on the UAE’s favorable regulatory environment.

Dubai’s Crypto Hub Ambitions

Dubai has been actively pursuing its goal of becoming a global crypto hub, alongside Singapore and Hong Kong. The city has achieved this by offering reasonably clear regulations, which has attracted major crypto exchanges such as Binance, Crypto.com, and OKX.

Read More

For more information on the UAE’s efforts to become a crypto hub, read our article on MANTRA Blockchain’s tokenization of $1 billion of real-world assets for a UAE-based property firm, DAMAC.

FAQs

Q: What is the focus of Sigma Capital’s new fund?

A: The fund will focus on decentralized finance (DeFi), tokenization, and blockchain infrastructure.

Q: Why is the UAE a favorable location for crypto startups?

A: The UAE has a reputation as a crypto hub, with clear regulations and a favorable business environment, making it an attractive location for startups.

Q: What is the total size of the fund?

A: The fund is worth $100 million.

Q: What is the goal of the fund?

A: The goal of the fund is to capitalize on the growing demand for Web3 solutions and tap into the UAE’s favorable regulatory environment.

Q: Which crypto exchanges have won approvals in the UAE?

A: Binance, Crypto.com, and OKX are some of the major crypto exchanges that have won approvals in the UAE.