Gulf-based Sigma Capital has brought in a $100 million fund to invest in web3 sectors, from blockchain infrastructure to the metaverse.
Sigma Capital, a private equity firm specializing in early stage startups, has announced the launch of a $100 million fund to drive web3 innovation. The so-called “Sigma I Capital Fund” will focus on projects in decentralized financeblockchain infrastructure, real-world asset tokenization, gaming, and even the metaversethe company said on January 14 press release.
“In addition, and as part of the fund, Sigma Capital actively manages a portfolio of liquid tokens, taking advantage of market opportunities to generate consistent returns.”
Sigma Capital
With the fund, the company says it plans to invest in 100 early stage startups, 25 beer brands, and 10 funds over the next three years. It will also use high-yield strategies in decentralized finance to “maximize the fund's portfolio performance and invest in high-growth crypto venture funds that will expand the fund's exposure to emerging web3 innovations.” “
Vineet Budki, the firm's chief executive officer and managing partner, will lead the fund. Speaking about the initiative, Budki said the company envisions a digital economy “that is more open, inclusive and innovative.” He added that the UAE's economy and regulatory environment “provides an ideal backdrop for web3's next wave of innovation.”
The company has not detailed how it will select startups but plans to work with web3 hubs in 10 cities around the world to offer market insight and support, the press release said. reading
