Crypto Valley Enterprise Capital Launches African Blockchain Early-Stage Fund
Crypto Valley Enterprise Capital, which additionally calls itself CV VC, is launching an Africa-focused fund to assist blockchain startups on the continent, the investor introduced Monday on the Blockchain Hub adjoining to the World Financial Discussion board in Davos, Switzerland.
The fund is to spend money on 100 startups within the African continent over the subsequent 4 years, CV VC mentioned in a press launch. In accordance with the announcement, CV VC has invested in 12 startups the place “blockchain use circumstances go far past cryptocurrencies to drive Africa’s future thus far.” The investor goals to boost between $10 and $50 million via the fund.
Among the many 12 startups CV VC has already invested in are Main Home Africa, a startup from Nigeria that can permit land registration on the blockchain, and Mazzuma, a cellular funds platform from Ghana. In accordance with Olaf Hannemann, co-founder and CIO of CV VC, most startups are anticipated to originate from South Africa, Nigeria, Kenya, Ghana and Egypt however it’s open to funding tasks from the whole continent.
“We simply need the very best concepts from in all places,” Hannemann mentioned.
On Monday, CV VC printed the African Blockchain Report, which highlighted the expansion of the blockchain sector in Africa. In accordance with the report, on a year-on-year foundation, funding for African blockchain startups outpaced the expansion usually African enterprise funding by 11 instances.
Africa is a fast-growing crypto market, attracting giant investments from the crypto sector, in line with the report. Earlier this month, Pan-African centralized crypto trade Mara raised $23 million, led by Coinbase Ventures and Alameda Analysis. Central African Republic lately adopted bitcoin as authorized tender.
Swiss-headquartered CV VC is in a public-private partnership with the Swiss State Secretariat for Financial Affairs (SECO), Switzerland’s labor market authority.