PANews reported on January 14 that according to CoinDesk, early-stage venture capital firm Sigma Capital launched a $100 million fund focusing on Web3 startups. According to an announcement released via email on Tuesday, the Dubai-based company is trying to leverage the United Arab Emirates (UAE)'s reputation as a cryptocurrency center. The fund will focus on decentralized finance (DeFi), tokenization, and blockchain infrastructure by managing a portfolio of liquid tokens.
Update: According to The Block , the company's founder, CEO and managing partner Vineet Budki said that the fund aims to raise $100 million and has received about $40 million in pre-commitments. He added that the first fundraising is expected to be completed on June 30, and the final fundraising is expected to be completed 18 months later.