Venture asset manager Sigma Capital has launched the Sigma Capital Fund I, a $100 million initiative aimed at reinforcing the UAE’s position as a leader in blockchain innovation and institutional investment. This fund is designed to stimulate advancements in Web3, specifically targeting early-stage ventures in the region and beyond.

The scope of the Fund includes diverse areas such as decentralized finance, tokenization of real-world assets, gaming, and virtual economies. With Vineet Budki, a prominent figure in the Web3 space, leading Sigma Capital, the fund aims to provide startups with critical market insights, networking opportunities, and the necessary capital to excel in a fast-changing ecosystem.

Vineet Budki expressed a vision for the future, stating, “We envision a digital economy that is more open, inclusive, and innovative.” He emphasized that Sigma Capital Fund I will empower startups by providing capital and access to extensive networks, helping them navigate the Web3 landscape effectively.

The Fund’s strategic advantage is bolstered by partnerships with significant entities like Morningstar Ventures and Blockchain Founders Fund. Over the next three years, it aims to diversify its investments across 100 startups, 25 liquid tokens, and 10 fund-of-funds allocations, which is expected to ensure substantial growth and returns.

Danilo S. Carlucci, Founder & CEO at Morningstar Ventures, remarked that Sigma Capital’s $100 million fund underscores the region’s growing influence in the blockchain and financial technology sectors. He noted that this initiative will further cement the UAE’s status as a pioneer in financial innovation.