About Cypher Capital
Cypher Capital is a venture capital firm founded in 2022. It is primarily based out of Dubai, United Arab Emirates. As of Jul 2025, Cypher Capital is an active investor, having invested in 70 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Blockchain Technology to High Tech and FinTech. Most recently it participated in the $***** Series A round of Falcon Overall, Cypher Capital portfolio has seen 3 unicorns, namely Mysten Labs, Berachain and Humanity Protocol. A lot of funds co-invest with Cypher Capital, with names like HashKey Capital sharing a substantial percentage of its portfolio. Cypher Capital has team of 11 people including 3 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 3 more
Portfolio Unicorns
Cypher Capital's List of Top Investments
Cypher Capital has a portfolio of 70 companies, including 3 unicorns. Their most notable investments are in Studio369 and Raiinmaker.Their portfolio spans across United States, United Arab Emirates, Singapore and 16 more locations. They have invested in Blockchain Technology, High Tech, FinTech and 12 other sectors, across stages such as Seed, Series A and 3 more. Here is the list of top investments by Cypher Capital:
1. Mysten Labs
Blockchain platform offering Web3 infrastructure solutions. Its product portfolio includes an open-source wallet packed with features to help developers access, learn, and transact on the Sui network, Sui Explorer for digging into metrics, searching for transactions, Sui name service to register identity, and more. It also offers digital collectibles called SuiFrens.
Key facts about Mysten Labs
- Founded Year: 2021
- Location: Palo Alto (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $336M
- Employee Count: 208 as on Jun 30, 2026
- Investors: Greenoaks, Scribble Ventures and 42 Others
- Latest Funding Round: Series B, Sep 08, 2022, $*****
- Highlight: Editors' Pick
2. Berachain
Provider of EVM-compatible blockchain built on Proof-of-Liquidity consensus. It provides users with a DeFi-focused and EVM-compatible L1 chain built on the Cosmos SDK, powered by Proof of Liquidity Consensus. It is the native consensus collateralized stablecoin.
Key facts about Berachain
- Founded Year: 2022
- Location: George Town (Cayman Islands)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $142M
- Investors: Hack VC, No Limit Holdings and 25 Others
- Latest Funding Round: Series B, Mar 15, 2024, $*****
- Highlight: Editors' Pick
Provider of a data blockchain securing onchain finance and data. It offers tools for indexing blockchain data and securing offchain data. The platform enables verifiable queries and supports smart contract development. It delivers data to applications without custom pipelines.
Key facts about Space and Time
- Founded Year: 2022
- Location: Los Angeles (United States)
- Stage: Series A
- Total Funding till date: $50M
- Employee Count: 50 - 199 as on Mar 01, 2026
- Investors: F-Prime Capital, Circle Ventures and 28 Others
- Latest Funding Round: Series A, Aug 27, 2024, $*****
- Highlight: Editors' Pick
4. ZeroLend
Platform offering online banking solutions. It is a platform that provides peer-to-peer lending and borrowing of digital assets, focusing on areas such as liquid restaking tokens, real-world asset lending, and account abstraction.
Key facts about ZeroLend
5. UXLINK
Provider of AI-based web3 social platform and infrastructure solutions. It provides users with a company that offers AI-empowered group tools and socialized interaction tools for users to interact with professionals. It also offers a reward system for community and ecosystem development based on a transparent proof of link mechanism.
Key facts about UXLINK
- Founded Year: 2022
- Location: Singapore (Singapore)
- Stage: Series A
- Total Funding till date: $14M
- Employee Count: 16 as on Jun 30, 2026
- Investors: Granite Asia, UOB and 19 Others
- Latest Funding Round: Series A, Jul 26, 2024, $*****
- Highlight: Editors' Pick
Cypher Capital's Year-on-Year Investment Trends
Cypher Capital has invested in 70 companies over the last 4 years, with an average of 14 new investments annually in the last 3 years. In 2025, it made 3 investments. Its most recent first time investment was in Falcon and most recent follow-on round was in Wallchain.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 3 | 0 | 3 |
2024 | 34 | 2 | 36 |
2023 | 14 | 0 | 14 |
2022 | 7 | 0 | 7 |
Cypher Capital's Investments by Stage
Cypher Capital has made 36 investments in Seed stage with an average round size of $4.96M, 14 investments in Series A stage with an average round size of $7.68M, 6 investments in Series B stage with an average round size of $27.6M, 1 investment in ICO stage with an average round size of $9M and 1 investment in Series D stage with an average round size of $150M.Stage of entry | No. of Investments |
|---|---|
Seed | 36 |
Series A | 14 |
Series B | 6 |
ICO | 1 |
Series D | 1 |
Note: We have considered here, only first round of investments
Cypher Capital's Investments by Sector
Cypher Capital has a diverse portfolio, with companies operating in the Blockchain Technology, High Tech, FinTech, Blockchain - Industry Applications and Consumer. Notably, it has invested in 64 Tech companies, 54 Blockchain companies, 51 Consumer (B2C) companies and at least 32 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Blockchain Technology | 45 |
High Tech | 39 |
FinTech | 31 |
Blockchain - Industry Applications | 28 |
Consumer | 12 |
Others | 31 |
Note: We have considered here, only first round of investments
Cypher Capital's Investments by Geography
Cypher Capital has made most investments in United States (18), followed by Singapore where it has made 7 investments.Country | No. of Investments |
|---|---|
United States | 18 |
Singapore | 7 |
United Arab Emirates | 5 |
Cayman Islands | 4 |
India | 4 |
Others | 17 |
Note: We have considered here, only first round of investments
Cypher Capital's recent investments
Cypher Capital has not made any investment in 2026 so far.Here are the most recent investments by Cypher Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jul 30, 2025 | United States | Series A | 5240 | ||
Jul 18, 2025 | India | Seed | 1315 | - | |
Feb 26, 2025 | United Arab Emirates | Series A | 5662 | [+2] | |
Dec 04, 2024 | Cayman Islands | Series A | 8539 | [+12] | |
Nov 25, 2024 | India | Seed | 9919 | [+16] |
Unicorns in Cypher Capital's Portfolio
Cypher Capital has 3 unicorns in its portfolio - Humanity Protocol, Berachain and Mysten Labs. The most recent unicorn in their portfolio is Humanity Protocol. It became a unicorn in 2024.Here is a list of unicorns in Cypher Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
56 | Developer of a decentralized identity blockchain protocol | 2023 | Hong Kong | Seed | kvwvfwb | ||
60 | Provider of EVM-compatible blockchain built on Proof-of-Liquidity consensus | 2022 | George Town | Series B | lbkrhvm | ||
82 | Blockchain platform offering Web3 infrastructure solutions | 2021 | Palo Alto | Series B | kufqure |
Team profile of Cypher Capital
Cypher Capital has a team of 11 members including 3 Partners and 2 Principals located in United Arab Emirates. Cypher Capital's team does not sit on the board of any company as of now.Here is a list of top team members in Cypher Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United Arab Emirates | - | - | |
Partner | United Arab Emirates | - | ||
Partner | United Arab Emirates | - | ||
Principal | United Arab Emirates | - | ||
Principal | United Arab Emirates | - |
Co-investors of Cypher Capital
Over the past 4 years, 515 investors have co-invested in Cypher Capital's portfolio companies. This includes funds and angels.
- Invested before Cypher Capital: Polygon, Animoca Brands and 117 others have invested in rounds before Cypher Capital. There are 3 companies where Polygon has invested before Cypher Capital and 3 companies where Animoca Brands has invested before Cypher Capital.
- Top Co-investors of Cypher Capital: 353 investors entered a company along with Cypher Capital. These include investors like HashKey Capital (6 companies).
- Invested after Cypher Capital: A total of 43 investors have invested in Cypher Capital's portfolio after their investments. Top Investors include Animoca Brands (3 companies), Pantera Capital (2 companies) and LBank Labs (2 companies).
Recent News related to Cypher Capital
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SG crypto startup Veera raises $10mTech in Asia•Jan 16, 2026•Titan, Veera, 6MV, Ayon Capital and 8 others
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Polygon Labs & Cypher Capital Partner to Expand Institutional Access to POL in the Middle EastWorld Economic•Oct 28, 2025•Cypher Capital, Polygon
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M2 Invests $10M in Falcon Finance to Boost Universal Collateralization InfrastructureThe Daily Hodl•Oct 09, 2025•Falcon, M2 Bespoke, Cypher Capital, and 2 others
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LAB Closes $1.5M Community Round, $LAB Token En RouteCrowdfund Insider•Oct 03, 2025•Cypher Capital, Legion, Oak Grove Ventures, Castrum Capital and 13 others
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Polygon Labs and Cypher Capital Expand Institutional Access to POL Across the Middle EastGlobeNewswire•Sep 12, 2025•Cypher Capital, Polygon
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Fantv Secured $3 M Series A Funding To Enhance Ai Tools For CreatorsIncubees•Mar 25, 2025•FanTV, Mysten Labs, Cypher Capital, CoinSwitch and 7 others
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FanTV Closes $8.5 Million Series A Funding Round to Power AI Content Agentsentarabi.com•Mar 04, 2025•FanTV, Mysten Labs, Cypher Capital, CoinSwitch and 7 others
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FanTV Secures $3M to Transform Next-Gen Content Creation With AI AgentsBeInCrypto•Feb 26, 2025•Fan TV, Mysten Labs, Cypher Capital, CoinSwitch and 10 others
