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

On March, 23, UAE- based venture capitalist firm Cypher Capital announced that it has secured a $100 million blockchain fund.

The firm has 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.

• With the funds raised in the seed round the firm has allocated $40 million to cryptocurrency and blockchain startups in India.

• Bijan Alizadeh, Founder and General Partner at Cypher Capital, said, "This fund reflects our vision to be the leading global partner for projects in the blockchain, crypto, and digital asset community. We will collaborate closely with our portfolio projects, offering them access to our network and equipping them with our knowledge, as well as investing alongside other venture capital partners into the innovative blockchain, crypto, and digital asset projects”

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

• Vineet Budki, Managing Partner of Cypher Capital, said, “We have the knowledge and expertise to mentor projects and entrepreneurs and equip them with the tools they need for success. At the moment we are especially interested in projects in the DeFi (decentralized Finance), GameFi, and metaverse space but we are always on the lookout for innovative blockchain projects in general”.

"India with its 100 million crypto users is the next big market for crypto adoption and we believe in educating people on the use cases like DeFi lending and borrowing play to earn etc and handholding blockchain startups to build valuable companies.” 

• The company aims to mentor and assist entrepreneurs in developing skills and the company has been building a blockchain and digital centre at JBR Dubai. The centre will provide exclusive access to crypto enthusiasts, startups, entrepreneurs, and its members.

• The firm has been making conscious efforts to make the blockchain ecosystem more sustainable and it has collaborated with a non-profit organisation that is dedicated to making a greener planet.

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