Crypto Valley Venture Capital has introduced the launch of an early-stage fund for African blockchain startups. Already, the enterprise capital agency has invested in 12 startups whose use circumstances transcend crypto.
Uses Cases Beyond Crypto
The Switzerland-based enterprise capital (VC) agency, Crypto Valley Venture Capital (CVVC), has launched an African blockchain early-stage fund. The VC has partnered with the Swiss State Secretariat for Economic Affairs (SECO) on this endeavor, an announcement launched by CVVC has mentioned.
In the identical assertion, the VC mentioned the target of the accelerator is to fund some 100 startups from Africa within the subsequent 4 years. Already, CVVC has invested in 12 startups whose blockchain use circumstances transcend cryptocurrencies. Also, via the brand new fund, the VC will proceed to play its function as a “leading enabler.”
Remarking on CVVC’s launch of the blockchain fund in addition to the publishing of the inaugural African Blockchain Report, Véronique Haller, Chargée d’affaires on the Swiss Embassy in South Africa mentioned:
Blockchain has the potential to be a catalyst for constructive change and form the way forward for our continent. With knowledge in and round blockchain in Africa nonetheless scarce, the primary Africa Blockchain Report can be an essential milestone. And let’s wager that Africa will quickly be dwelling to its first blockchain unicorn.
‘Data-Driven Account’ of the Blockchain in Africa
The VC agency’s Gideon Greaves, within the meantime, is quoted explaining the target behind the publishing of the primary blockchain report. He mentioned: “Our objective with the African Blockchain Report is to share a data-driven account of blockchain in Africa and begin an annual collation of benchmarkable venture data and solidly referenced African insights.” Greaves additionally revealed that the report is concentrated on 40 African blockchain firms.
Meanwhile, within the report that was printed in collaboration with Standard Bank, CVVC noticed that Africa “has self-accelerated blockchain as a transformative force for society and the economy and how pioneers continue to reinforce the need for more unified action on regulation and infrastructure.”
The report, in accordance with the VC agency’s assertion, additionally “depicts a unique holistic overview of blockchain in Africa, which will facilitate funders to make a better judgment of Africa’s investment potential.”
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