Global Crypto Market

  • Market Cap: $1,128,410,447,725.29
  • 24h Vol: $106,605,920,420.98
  • BTC Dominance: 39.64%

UAE Venture Capital Firm Launches $100 Million Seed Fund for Blockchain and Crypto Projects – Emerging Markets Bitcoin News – Bitcoin News

by Terence Zimwara
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.
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.
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.
Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Creative Family
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Today’s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per … read more.
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market … read more.

Check all the news here


Leave a Comment

Your email address will not be published.