UAE Enterprise Capital Agency Launches $100 Million Seed Fund for Blockchain and Crypto Tasks

Cypher Capital, a United Arab Emirates (UAE)-based enterprise capital (VC) agency, has introduced the launch of a $100 million seed fund that may primarily avail funding to decentralized finance (defi), gamefi, and metaverse tasks.

Mentoring of Entrepreneurs

A United Arab Emirates (UAE)-based enterprise capital agency, Cypher Capital, lately introduced it has launched a $100 million seed fund whose goal is to finance blockchain and crypto tasks with real worth propositions.

As defined in a report printed by Unlock Media, the VC agency is planning to be concerned within the mentoring of entrepreneurs who run tasks that are funded by Cypher Capital. As well as, the agency will to equip the entrepreneurs with the instruments they should succeed, Bijan Alizadeh, founder and normal accomplice at Cypher Capital, is quoted within the report explaining.

Alizadeh additionally revealed that his firm plans to put money into blockchain and crypto tasks which have acquired assist from different enterprise capitalists. He stated:

We intention to cooperate with and broaden the ecosystem by working with visionary innovators, excellent expertise and different enterprise capital companions to create a holistic blockchain group which, in flip, foster[s] the expansion of the ecosystem.

Funding Additionally Open to ‘Revolutionary Blockchain Tasks’

The managing accomplice of Cypher Capital, Vineet Budki, can also be quoted within the report stating that solely tasks in decentralized finance (defi), gamefi, and the metaverse house qualify to obtain funding. Nevertheless, Budki clarified that his firm is “at all times looking out for modern blockchain tasks usually.”

In the meantime, the identical report states that Cypher Capital expects to finish the development of its 10,000 square-foot Dubai digital asset hub someday in August 2022. As soon as full, the hub will welcome crypto lovers and entrepreneurs and provide unique entry to members.

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively concerning the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

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