Sigma Capital Unveils US$100 Million To Back Web3 Innovation

Sigma Capital, a global early-stage venture asset manager dedicated to identifying, supporting, and investing in the most innovative blockchain and cryptocurrency projects, has launched the US$100 million Sigma Capital Fund I.

With the new fund, the company aims to driving the next generation of Web3 innovation both in the Middle East and around the world.  

Sigma Capital Fund I will focus on transformative sectors like decentralized finance (DeFi), blockchain infrastructure, real-world asset tokenization, gaming, and the metaverse. In addition, the fund will actively manage a dynamic portfolio of liquid tokens, capitalizing on market opportunities to deliver steady returns. 

Vineet Budki, CEO and managing partner at Sigma Capital, is taking charge as the fund’s lead portfolio manager. Budki previously led Cypher Capital, a Web3-native early-stage venture asset manager based in the UAE. During his tenure, he spearheaded over 300 strategic investments in groundbreaking ventures across DeFi, gaming, and blockchain infrastructure, with a portfolio that includes Mysten Labs, Sei Network, Casper Labs, Web3Auth, Manta Network, Mocaverse, Peak Network, and MyPetHooligan. 

In a statement about the fund, Budki said, "We envision a digital economy that is more open, inclusive, and innovative. 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, equip them with access to Sigma Capital’s extensive network and investment expertise, and will enable them to thrive in the rapidly evolving Web3 landscape.” 

With a commitment to optimizing performance, Sigma Capital Fund I will employ high-yield DeFi strategies and invest in fast-growing crypto venture funds to expand exposure to Web3 innovations. Over the next three years, the Fund aims to strategically allocate investments across 100 early-stage projects, 25 liquid tokens, and 10 fund-of-funds ventures. 

Sigma Capital, which has a strategic presence in Dubai, Singapore, and the Cayman Islands, has already collaborated with and invested in renowned industry leaders like Polygon Technology, Morningstar Ventures, Blockchain Founders Fund, Woodstock Fund, and several others. 

Leveraging its expertise and global network, Sigma Capital offers a strategic advantage by providing access to key exchanges, market makers, launchpads, and thought leaders, ensuring its position at the forefront of the Web3 revolution. 

Sigma Capital will forge partnerships with Web3 hubs in 10 major global cities, equipping its portfolio companies with invaluable market insights and robust support to thrive in a competitive landscape. By blending a diversified investment strategy with market access, Sigma Capital is aiming to fuel sustainable growth and innovation across the global and GCC Web3 ecosystems. 

Sandeep Naliwal, founder of Polygon Technology, added, “One of the leading players in the blockchain space, 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. I have no doubt this fund will catalyze the next wave of groundbreaking startups and solidify the region's role in the decentralized economy.” 

Pictured on image (from left to right): Sigma Capital's Amit Agrawal, Vineet Budki, and Vickaash Agarawal. Image courtesy Sigma Capital.