Crypto Valley Venture Capital (CV VC) of Switzerland has launched an Africa-focused early-stage fund to help blockchain entrepreneurs on the continent.
Over the next four years, the fund will invest in 100 firms, according to a statement presented on Monday at the Blockchain Hub in Davos, Switzerland, alongside the World Economic Forum.
CV VC has already invested in twelve African firms whose blockchain applications extend well beyond cryptocurrencies.
It did not disclose the fund’s possible size.
Read also A proposed solution to crypto’s stablecoin problem
In addition, the crypto business released the Africa Blockchain Report.
According to the survey, cryptocurrency use in Africa increased by over 1,200 percent between July 2020 and June 2021, making it one of the fastest-growing regions in terms of adoption.
Read also Kenya’s Cellulant Partners Tanzanian Fintech NALA for Overseas Payments
Even while the African blockchain ecosystem is booming and the pace of cryptocurrency adoption is high, data and insights for blockchain-related activities in the region are fragmented and few, the report noted.
Crypto Valley Venture Capital
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh