WhalePanda
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New crypto VC Sigma Capital targets $100 million fund, with $40 million pre-committed
Sigma Capital, a new crypto venture capital firm founded by former Cypher Capital executive Vineet Budki, has announced its first fund.
The fund aims to raise $100 million and has around $40 million in pre-commitments, Budki told The Block. He added that the first close is expected on June 30, with the final close anticipated 18 months later.
Budki said the pre-commitments are from crypto funds, high-net-worth individuals and angel investors. He declined to name the investors but said they have previously collectively backed over 200 startups, such as Manta Network, Humanity Protocol and Casper Labs.
Sigma Capital's debut aligns with a bullish crypto market, marked by bitcoin's recent surge above $100,000 and growing investor activity. The firm aims to capitalize on this favorable climate with its first fund. 0 reply
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