Venture capital firm Cypher Capital launched one of the largest seed funds in the MENA region (countries in the Middle East and North Africa). The $100 million fund will target DeFi, GameFi, and metaverse projects.
The UAE-based company focuses on taking a holistic approach to create an ecosystem for blockchain-related projects to succeed.
Bijan Alizadeh, founder and GP at Cypher Capital, stated in a press release:
“We are very proud and honored to be launching our first and the biggest crypto, digital asset and blockchain private seed fund from the UAE and the Middle East Region.”
Cypher Capital believes that collaborating with other private venture firms will help to perfect the blockchain ecosystem. This belief is reflected in Cypher’s latest $1.5 million investment made to Crypto Oasis Sentio.
“We aim to cooperate with and expand the ecosystem by working with visionary innovators, outstanding talent and other venture capital partners to create a holistic blockchain community which will in turn, foster the growth of the ecosystem,”
Alizadeh is a renowned crypto investor – he was a part of successful start-up projects, such as ACDX, Graph, Casper, Near Protocol, and Skale.
On the Flipside
- According to Crunchbase, private venture funding in the crypto industry is at $3.4 billion in only the first two months of 2022.