Cypher Capital

Cypher Capital is a venture capital firm established in 2022 and based in Dubai, United Arab Emirates. The firm specializes in investing in the cryptocurrency and web3 infrastructure sectors. Focused on supporting innovative projects within the blockchain ecosystem, Cypher Capital aims to contribute to the growth and development of the digital economy.

Bijan Alizadeh

Co-Founder and General Partner

Vineet Budki

Managing Partner and CEO

Karan Gandhi

Investment Director

25 past transactions

Biton

Venture Round in 2025
Biton is a full-chain ecology trading platform that offers services to simplify the trading process and mitigate cross-chain risks.

FanTV AI

Series A in 2025
FanTV, the leading AI Agent platform for next-gen Content Creation and backed by Multicoin Capital, is where AI meets Crypto on Sui, leading with over 8 million On-chain Users (80k Creators) and 27 million transactions, processing more than 1.2 million hours of AI-powered content monthly. As the largest platform for content creation across all chains, FanTV contributes to more than 22% of active wallets on Sui.

SecondLive

Seed Round in 2024
SecondLive is a digital ecosystem designed for Metaverse users, providing a platform for creating avatars and exploring virtual spaces. It facilitates a wide range of activities, including social interactions, gaming, online work, and shopping, all driven by user-generated content and artificial intelligence. The platform supports various tasks, such as virtual exhibitions, personal spaces, art galleries, game rooms, and concert venues, allowing users to create and monetize their digital content. By enabling creators to engage in economic activities within the Metaverse, SecondLive fosters a vibrant community where individuals can connect, collaborate, and profit from their digital creations.

Param Labs

Seed Round in 2024
Param Labs is a development studio focused on creating interconnected Web3 gaming ecosystems. It specializes in developing multiplayer blockchain games with AAA design and gaming technology, allowing players to own digital assets.

BlockGames

Seed Round in 2024
BlockGames delivers a cross-game and decentralized player network driven by Universal Player Profiles.

Flash Protocol

Seed Round in 2024
Flash Protocol operates a decentralized platform for trading and lending computation, supporting the issuance of assets and decentralized finance activities like staking, trading, and borrowing of token coins. Its Bitcoin-native platform enables efficient minting, trading, and earning of NFTs.

JUICE Finance

Seed Round in 2024
JUICE Finance is a VC-funded DeFi application that empowers users to borrow and lend against both their Real World and Digital Assets. The company creates the middleware and infrastructure for the collateralization of fixed-income assets, enabling institutions the opportunity to enhance their yield through DeFi and on-chain lending activity in a capital-efficient and compliant manner. It was founded in 2023 by Wes Cowan and Eric Ryklin and is located in Miami, Florida.

Carbonated

Series A in 2024
Carbonated Inc. is a game development studio based in El Segundo, California, founded in 2015. It builds mobile and PC games with a focus on accessible, real-time multiplayer experiences. The company leverages artificial intelligence to enable moment-to-moment gameplay and to support one-handed play, particularly in a forthcoming mobile shooter title. It is also developing Carbyne, an in-house live operations system designed to rapidly deliver updates and content to players. Through its portfolio, Carbonated aims to create person-versus-person games that connect players across devices, offering engaging worlds, characters, and stories while prioritizing accessible, on-the-go gameplay.

Pallet Exchange

Venture Round in 2024
Pallet Exchange is developing a new sort of NFT marketplace that focuses on customer retention.

NFTFi

Series A in 2024
NFTfi is a peer-to-peer lending marketplace that specializes in NFT collateralized loans. It allows NFT holders to leverage their digital assets as collateral to secure cryptocurrency loans from lenders. When an NFT holder accepts a loan offer, the NFT is placed in a secure escrow smart contract while the corresponding cryptocurrency, such as wETH, DAI, or USDC, is transferred directly to the borrower's wallet. This innovative platform provides liquidity to NFT owners, enabling them to access cash without the need to sell their valuable digital assets. By utilizing a valuation approach similar to that of traditional art financing, NFTfi helps users determine the worth of their NFTs for loan purposes.

Wincast

Seed Round in 2024
Wincast is a company that offers infrastructure software as a service (SaaS) and advertising technology designed for sports organizations and sponsors. Its primary focus is to create real-time branded gaming experiences for fans. Additionally, Wincast has developed a non-fungible token streaming platform that aims to enhance entertainment experiences and facilitate ownership of digital collectibles. This platform allows users to engage with their favorite sports players and teams by bidding, collecting, and trading unique digital assets on the blockchain, ensuring authenticity and true ownership. Through these innovative offerings, Wincast enhances fan engagement and participation in the sports entertainment landscape.

Imaginary Ones

Seed Round in 2024
Imaginary Ones develops a gaming platform focused on creating and trading unique digital assets with varying rarity.

bitsCrunch

Series A in 2024
BitsCrunch specializes in AI-driven decentralized data analytics for digital assets on public blockchains. Its platform offers advanced analytics and forensics tools tailored for NFTs, wallets, and other blockchain-based assets.

Bracket Labs

Pre Seed Round in 2024
Bracket Labs is a software company that develops innovative financial platforms. Its flagship product, BracketX, is a decentralized exchange for crypto volatility trading, designed for traders indifferent to price direction who wish to complement their perpetual swaps strategies. The platform offers option-spread-like positions and price drop protection policies, enabling investors to apply financial leverage.

MYX

Seed Round in 2023
MYX is a decentralized derivative exchange that "uses intelligent rates and exposure hedging mechanisms to ensure protocol stability and provide sustainable high returns" through a peer-to-pool-to-peer paradigm.

Artifact Lab

Pre Seed Round in 2023
Artifact Lab levels up gamer rewards with universal player profiles.

Lyvely

Seed Round in 2023
Lyvely is a social networking and content monetization platform that facilitates connections between creators and their audiences. It offers an integrated multimedia e-commerce and payments solution, enabling content creators to present their skills and grow their online presence independently of major tech companies' algorithms and advertising agencies. This approach not only fosters quality interactions but also allows creators to generate revenue directly through their accounts, enhancing their ability to monetize their content effectively.

zkLink

Seed Round in 2023
zkLink is a blockchain infrastructure company offering a multi-chain trading platform that unifies blockchain networks and addresses Ethereum fragmentation through aggregated rollups. Its solutions use zero-knowledge proofs to enable secure cross-chain transactions and to aggregate liquidity from isolated networks, supporting high-throughput decentralized applications. The platform provides customizable rollup architectures, including app-specific options, to unify tokens and liquidity across Ethereum Layer 2s and to give developers cost- and performance-efficient interoperability.

Dspace

Seed Round in 2023
DSpace is a Web3 LBS game that utilizes NFTs and blockchain technology to let you explore, capture, and train virtual beasts in the real world.

Megaton Finance

Seed Round in 2023
Megaton Finance is a financial protocol that operates an Automated Market Maker Decentralized Exchange (AMM-DEX) specifically designed for the Telegram Open Network (TON). The company aims to bridge the isolated ecosystem of the TON blockchain by providing a platform that facilitates the exchange of various tokens. Users can easily trade tokens based on the ratios of token pairs deposited in liquidity pools. Additionally, Megaton Finance allows users to deposit their assets on the platform, enabling them to earn rewards while participating in the exchange process. Through its innovative approach, Megaton Finance enhances asset utilization within the TON network.

zkPass

Seed Round in 2023
zkPass is a technology company specializing in a privacy-preserving protocol for verifying private data. It enables users to selectively prove various types of sensitive information, such as identity, financial records, and healthcare data, from any HTTPS website without compromising privacy. The protocol, built on zkTLS and utilizing zero-knowledge proof computations, ensures data integrity and privacy, making it suitable for a range of applications in both financial and non-financial sectors.

Few and Far

Venture Round in 2023
Few and Far is a Web3-focused platform that serves as a one-stop destination for trading, tooling, identity, and rewards in NFTs and related ecosystems. It positions itself as a next-generation platform for Web3 experiences, including NFTs, DeFi, and gaming, offering NFT project support through launchpad services, minting tools, and outbound marketing. The company helps creators access liquidity, earn opportunities, and listings alongside prominent collections on NEAR. Its technology powers blockchain applications across the platform, enabling advanced functionality for gaming and decentralized finance, with a focus on reimagining rewards, creativity, and community.

Fenix Games

Venture Round in 2022
Fenix Games is a Web 3.0 games publisher founded by a team of gaming and finance professionals. The company focuses on revolutionizing the player's relationship with games by incorporating blockchain technology and decentralization. Fenix Games develops a game publishing platform that enables the launch of blockchain-based games, allowing players to become stakeholders in their gaming experiences. By publishing, acquiring, and investing in a diverse range of game genres, Fenix Games aims to create a robust portfolio of projects that enhance player engagement and redefine traditional gaming paradigms.

Rekt Studios

Seed Round in 2022
Rekt Studios is a blockchain company.

Wincast

Seed Round in 2022
Wincast is a company that offers infrastructure software as a service (SaaS) and advertising technology designed for sports organizations and sponsors. Its primary focus is to create real-time branded gaming experiences for fans. Additionally, Wincast has developed a non-fungible token streaming platform that aims to enhance entertainment experiences and facilitate ownership of digital collectibles. This platform allows users to engage with their favorite sports players and teams by bidding, collecting, and trading unique digital assets on the blockchain, ensuring authenticity and true ownership. Through these innovative offerings, Wincast enhances fan engagement and participation in the sports entertainment landscape.
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