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Dubai’s Cypher Capital establishes $ 100 million digital asset fund


Cypher also plans to open a “crypto, blockchain and digital asset hub” in Dubai.

Dubai:

Dubai-based venture capital firm Cypher Capital announced on Wednesday that it is launching a $ 100 million seed fund aimed at investing in digital assets, including cryptocurrencies.

The fund will be funded by the company’s founder, Bijan Alizadeh, and will also invest in decentralized financing platforms, blockchain applications and cryptocurrency games.

“It’s going to be 100% digital assets,” he told Reuters.

Cypher, which has $ 10 million in assets under management, plans to deploy an average of $ 2 million to $ 5 million each month, focusing on investments in the Middle East and North Africa and South Asia regions, but will also invest elsewhere.

The firm, which will be able to raise capital for new investment funds in the future, aims to have $ 1 billion in assets under management over three years.

Cypher also plans to open a “crypto, blockchain and digital asset hub” in Dubai to provide a space for start-ups where they can present their ideas to potential investors, Alizadeh said.

The start-ups will also be offered mentorship, legal advice and technical advice, he said, in hopes of developing the hub in an industry-focused networking community.

(This story was not edited by NDTV staff and is automatically generated from a syndicated stream.)

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