Cypher Capital plans to launch $100 million seed funding round

Cypher Capital plans to launch $100 million seed funding round

Cypher Capital, an early-stage VC and consultant firm based in Dubai, is reportedly introducing a seed fund of $100 million intended to capitalize on digital assets and cryptocurrencies.

Bijan Alizadeh, the founder of Cypher Capital, wishes to invest in talent in the MENA region. He said the UAE (United Arab Emirates) is one of the three major hubs when it comes to Blockchain, the others being Singapore and Miami.

The rules and regulations coming to effect by the government and its leadership will make the UAE a Blockchain hub. Also, there are more than 350 companies of Blockchain operating in UAE, and that number is growing every day.

A traditional VC firm runs with a high-reward, high-risk business, but as soon as the blockchain element is added, it becomes 10 times more rewarding as well as risky.

The blockchain environment is an evolving landscape and it is difficult to write a broad story on any entrepreneur. Bijan Alizadeh affirms that one needs to be up to date as the Blockchain space is growing at a quick pace.

Cypher Capital is a four-month-old firm and is currently a team of 25 with seven analysts managing around 120 projects and possessing $10 million in assets under management. It aims for $1 billion before raising money from institutions in the coming 3 years.

Mr. Alizadeh said that they intend to build a strong track record. A resident of Dubai for around 30 years, he has self-funded Cypher Capital, which will be investing in blockchain projects and is also planning to take the hub to Miami, Singapore, and possibly in Africa in the future.

Apart from this, Cypher Capital is also actively looking at projects in the DeFi, GameFi, and Metaverse space.

Source Credit - https://www.cnbcafrica.com/2022/dubai-based-vc-firm-wanting-to-take-blockchain-to-the-next-level/