Skip to main content

UAE Venture Capital Firm Launches $100 Million Seed Fund for Blockchain and Crypto Projects

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.

Mentoring of Entrepreneurs

A United Arab Emirates (UAE)-based venture capital firm, Cypher Capital, recently announced it has launched a $100 million seed fund whose objective is to finance blockchain and crypto projects with genuine 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 his 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’

The managing partner of Cypher Capital, Vineet Budki, is also quoted in the report stating that only projects in decentralized finance (defi), gamefi, and the metaverse space qualify 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.

What are your thoughts on this story? Tell us what you think in the comments section below.



from Bitcoin News https://ift.tt/UQxN1hK
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more