VC firm Cypher Capital announced the launch of global $100 million blockchain-focused fund. The VC firm has set aside 40% of the funds for emerging blockchain and crypto startups in India.
The fund will also invest in seed rounds of startups in related fields such as decentralised finance (DeFi), GameFi, and metaverse. Cypher will also collaborate with its portfolio projects, providing them with access to its network and knowledge. Apart from funding blockchain-focused startups, Cypher Capital intends to increase its stakes in other established blockchain funds, where it will act as a general partner and/or limited partner, investing in innovative blockchain, crypto, and digital asset projects. The venture capital firm also intends to open a 10,000-square-foot digital asset hub in Dubai's Jumeirah Beach Residence by August 2022. The hub will serve as a platform for the venture capital firm to mentor blockchain startups and other entrepreneurs in the space.