A United Arab Emirates (UAE)-based venture capital (VC) firm, Cypher Capital has announced the launch of a $100 million seed funding for blockchain and crypto projects such as decentralized finance (defi), gamefi, and metaverse projects, with genuine value propositions.

Bijan Alizadeh, founder and general partner at Cypher Capital, is quoted in a report published by Unlock Media, saying that, the firm has plans to be involved in the mentoring of entrepreneurs who run projects which are funded by Cypher Capital and equip the entrepreneurs with the tools needed for success.

The founder also revealed his company’s plans to invest in blockchain and crypto projects that have received support from other venture capitalists.

“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, in turn, foster[s] the growth of the ecosystem.”

The managing partner of Cypher Capital, Vineet Budki, is also quoted in the report stating that only projects in decentralized finance (defi), gamefi, and the metaverse space qualify to receive funding. However, Budki clarified that his company is “always on the lookout for innovative blockchain projects in general.”

Meanwhile, the report states that Cypher Capital expects to complete the construction of its 10,000 square-foot Dubai digital asset hub sometime in August 2022 to welcome crypto enthusiasts and entrepreneurs and offer exclusive access to members.


Source : Bitcoin.com

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