Cypher Capital’s $100 million blockchain fund

by April 2, 2022 0 comments

Cypher Capital, which is based in the United Arab Emirates (UAE), has earmarked a $40 million investment for Indian blockchain and crypto startups. With the funds raised in the seed round, Cypher Capital has allocated $40 million to Indian cryptocurrency and blockchain startups.

Bijan Alizadeh, Founder, and General Partner, Cypher Capital stated that the funds that will be injected into the Indian crypto segment showcase their ambitious expectations from the digital asset community. They plan to work closely with the projects they will be funding and help them through networking and expertise. Cypher Capital also plans to bring in other venture capital partners into the ecosystem.

Clearly, the company intends to build a feasible ecosystem for crypto, blockchain, and other digital asset enterprises in India. Vineet Budki, the Managing Partner of Cypher Capital, said that the knowledge resources held by the company will be useful in mentoring entrepreneurs in the segment. He also stated that some of the primary segments they are looking to target are DeFi, GameFi, and Metaverse, but will also consider other innovative projects.

India is a country with more than 100 million crypto users, and this is a big market in terms of scale. Crypto markets such as DeFi and play-to-earn have huge potential to boom in such a market. The aim of Cypher Capital is to mentor the various startups that will be in their portfolio to develop relevant skills and quickly grow the ecosystem.

The UAE-based crypto giant has been hard at work completing its Blockchain center in Dubai. Once completed, all of its resources will be made available to the startups in India. Cypher Capital has been making determined efforts to ensure that the blockchain ecosystem is sustainable and also collaborated with a non-profit organisation that is dedicated to making the planet greener.

As of now, they have invested in over 15 Indian blockchain firms, including Safle and Solrazr. Safle is a decentralised next-gen identification wallet and Solrazr is the first decentralised developer ecosystem for Solana.

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