[Funding alert] UAE-based Cypher Capital launches $100M blockchain fund

On March, 23, UAE- primarily based enterprise capitalist agency Cypher Capital introduced that it has secured a $100 million blockchain fund.

The agency has invested in over 15 Indian blockchain corporations, together with Safle and Solrazr. Safle is a decentralised next-gen identification pockets and Solrazr is the primary decentralised developer ecosystem for Solana.

• With the funds raised within the seed around the agency has allotted $40 million to cryptocurrency and blockchain startups in India.

• Bijan Alizadeh, Founder and Normal Companion at Cypher Capital, mentioned, “This fund displays our imaginative and prescient to be the main international associate for initiatives within the blockchain, crypto, and digital asset neighborhood. We’ll collaborate intently with our portfolio initiatives, providing them entry to our community and equipping them with our data, in addition to investing alongside different enterprise capital companions into the revolutionary blockchain, crypto, and digital asset initiatives”

• Cypher Capital intends to construct a successful ecosystem for crypto, blockchain, and different digital asset enterprises.

• Vineet Budki, Managing Companion of Cypher Capital, mentioned, “We have now the data and experience to mentor initiatives and entrepreneurs and equip them with the instruments they want for fulfillment. In the meanwhile we’re particularly excited about initiatives within the DeFi (decentralized Finance), GameFi, and metaverse area however we’re all the time looking out for revolutionary blockchain initiatives basically”.

“India with its 100 million crypto customers is the subsequent huge marketplace for crypto adoption and we imagine in educating individuals on the use instances like DeFi lending and borrowing play to earn and many others and handholding blockchain startups to construct beneficial corporations.” 

• The corporate goals to mentor and help entrepreneurs in growing expertise and the corporate has been constructing a blockchain and digital centre at JBR Dubai. The centre will present unique entry to crypto lovers, startups, entrepreneurs, and its members.

• The agency has been making acutely aware efforts to make the blockchain ecosystem extra sustainable and it has collaborated with a non-profit organisation that’s devoted to creating a greener planet.