Sigma Capital has announced its intention to raise a $100 million fund.
Sigma Capital has announced its intention to raise a $100 million fund. The firm has already secured approximately $40 million in pre-commitments, founder and CEO Vineet Budki revealed in an interview with The Block. The initial closing of the fund is slated for June 30, with a final closing expected to occur within 18 months.
The pre-commitments are sourced from a mix of crypto funds, angel investors, and high-net-worth individuals, although Budki declined to disclose the names of specific investors.
He noted that these backers have collectively invested in over 200 startups, including notable projects like Manta Network and Casper Labs.
Sigma Capital aims to allocate its investments across three primary categories: 50% to early-stage startups, 40% to liquid tokens and high-yield decentralized finance (DeFi) strategies, and 10% to fund-of-funds.
The firm anticipates making up to 100 early-stage investments with a median check size of $500,000, in addition to 25 liquid deals ranging from $2 million to $3 million each, and up to 10 fund-of-funds deals averaging around $1 million.
Budki emphasized a preference for founder-driven investments, arguing that strong leadership is critical regardless of sector. He indicated that investment timing is also essential, as market conditions can influence which types of projects attract investor interest.
Based in Dubai and Singapore, and regulated in the Cayman Islands, Sigma Capital plans to maintain a workforce of around 30 employees.
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