CypherCapital Inaugrates $100 Million Blockchain Fund

CypherCapital aims to invest 40 per cent of the seed fund on the emerging blockchain and crypto startups in India

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CypherCapital on Thursday announced the launch of one of the region's biggest seed funds. The $100 million seed fund will focus on investments in blockchain, crypto and other digital asset projects who have genuine value propositions. CypherCapital aims to invest 40 per cent of the seed fund on the emerging blockchain and crypto startups in India.

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"This fund reflects our vision to be the leading global partner for projects in the blockchain, crypto and the digital asset community. We will collaborate closely with our portfolio projects, offering them access to our network and equipping them with our knowldge, as well as investing alongside other venture capital partners into innovative blockchain, crypto and digital asset projects," said Bijan Alizadeh, founder and general partner, CypherCapital.

According to Crunchbase data, pure venture funding—pre-seed, seed and all venture rounds— in the cryptocurrency space, is already at $3.4 billion after just the first two months of 2022. A PWC report revealed that $34 billion was raised by crypto companies globally in 2021.

"India has shown exceptional interest in Blockchain ecosystem building with Projects like Matic being developed by Indian founders like Sandeep Naliwal and hence holds special value for us. India with its 100 million crypto users is the next big market for crypto adoption and we believe in educating people on the use cases like defi lending and borrowing play to earn etc and handholding blockchain startups to build valuable companies," said Vineet Budki, managing partner, CypherCapital.

CypherCapital has already invested $1.5 million into Crypto Oasis Sentio, showcasing its belief that cooperating with other private venture capital funds builds the blockchain ecosystem. The VC firm has already invested in over 15 Indian blockchain startups like Safle, Solrazr, etc from its Fund one. Safle is a Next-Gen identity wallet and composite blockchain infra provider for the decentralized cryptoverse. Solrazr is the first decentralized developer ecosystem for Solana. CypherCapital will take an entrepreneurial approach to building its portfolio and will focus on seed funding and also taking stakes in other established blockchain funds as general partners and limited partners as part of its value proposition as well.