Cypher Capital, a Dubai-based venture capital firm, announced on Wednesday a $100 million seed fund for the purpose of investing in digital assets including cryptocurrencies.
Cypher Capital Raises $100 Million
Led by the company’s founder and general partner, Bijan Alizadeh, Cypher’s funds will be used to invest in decentralized finance (DeFi) platforms, blockchain applications and cryptocurrency gaming.
“It’s going to be 100% digital assets,” Bijan Alizadeh told Reuters.
Cypher Capital is a venture capital firm with investment solutions for businesses based on blockchain technology and digital currency.
Since 2020, the firm has accomplished 60+ financial investment projects and is striving towards achieving more. In an effort to promote blockchain adoption, the company is working on developing the next generation of infrastructure companies.
With $10 million in assets under management, Cypher plans to deploy on average $2 million to $5 million each month and focus on investing in the Middle East, North Africa and South Asia regions. It would still invest elsewhere too.
The firm is aiming at having $1 billion in assets under management in three years time, with hopes of raising capital for new investment funds in the future.
Alizadeh shared that the company also plans to open a “crypto, blockchain and digital asset hub” in Dubai to offer a workspace to start-ups where they can key in their ideas to potential investors.
The company’s founder also said startups would be offered mentoring, legal advice and technical advice, with the hope of developing the hub into an industry-focused networking community.
Dubai Rolls Out New Crypto Regulation
Cypher’s $100 million seed fund for digital assets comes barely two weeks after Dubai introduced a new regulatory framework for cryptocurrency activities in the United Arab Emirates.
Dubai has also established a new regulatory agency dubbed the Dubai Virtual Assets Regulatory Authority (VARA) to oversee crypto operations in the country. The city hopes to become a major player in the global digital asset market.
Source: https://coinfomania.com/dubai-firm-cypher-capital-raises-100m/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=dubai-firm-cypher-capital-raises-100m