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The fund will focus on DeFi, tokenization, and blockchain infrastructure by managing a portfolio of liquid tokens
Updated Jan 14, 2025, 9:32 a.m. UTCPublished Jan 14, 2025, 10:00 a.m. UTC
Dubai (Kent Tupas/Unsplash)
What to know:
Sigma Capital, an early-stage venture firm, has unveiled a $100 million fund focused on Web3 startups.
The Dubai-based company is attempting to capitalize on the United Arab Emirates' (UAE) reputation as a crypto hub, according to an emailed announcement on Tuesday.
The fund will focus on decentralized finance (DeFi), tokenization and blockchain infrastructure by managing a portfolio of liquid tokens.
Dubai has been jostling for the position of being a global crypto hub along with the likes of Singapore and Hong Kong, which it has strived to achieve through offering reasonably clear regulations. This has seen major crypto exchanges such as Binance, Crypto.com and OKX win approvals there in the last year.
Read More: MANTRA Blockchain to Tokenize $1B of Real-World Assets for UAE-Based Property Firm DAMAC
Jamie Crawley
Jamie joined CoinDesk as a news reporter in February 2021 after writing widely about crypto and blockchain for two years in other roles. Away from crypto, Jamie runs a lot and loves all things sport. He holds small amounts of BTC, ETH, ADA and LTC.
