Adaverse has recently announced investments into tech startups in Africa: afriexapp, SesoGlobal, Afriblocks, betdemand.
The latest investments join Adaverse’s growing list of portfolio companies including CassavaNetwork and Canza_Finance.
The firm invested with support from its founding companies EMURGO and EVG_Ventures. Adaverse investments are basically directed towards crypto-native startups in Africa building the most unique, and crucial solutions spanning p2p systems, DeFi, Talent protocol, cross border payments, NFTs, and gaming.
Last year, EMURGO, the Cardano blockchain’s official commercial arm, announced the establishment of a new $100m Cardano ecosystem investment vehicle to fund early-stage and growth-stage startups in Africa focusing on creating socially meaningful solutions using Cardano.
In the same year also, EMURGO announced two important agreements as part of its initial launch to rapidly build the Cardano ecosystem in Africa and use its partners’ enormous business networks.
Adanian Labs, an African venture capital firm, will collaborate with EMURGO Africa to promote impact-driven entrepreneurs as the Cardano ecosystem expands throughout the continent.
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EMURGO Africa will collaborate with Adaverse, a Cardano-focused joint accelerator program in Africa with Everest Ventures, a major blockchain industry accelerator.
“EMURGO’s investments will help to shape the future of the Cardano ecosystem, a maturing network with a creative and diverse community, growing smart contract capabilities and partnerships across the globe that provide social and financial services utilizing Cardano’s provably-secure technology,” Charles Hoskinson, CEO of IOHK, said.
Global cryptocurrency adoption has surged over 880 percent and is soaring, according to the 2021 Chainalysis Global Crypto Adoption Index, boosted by use of DeFi platforms in emerging regions. Due to a lack of access to centralized exchanges and traditional financial institutions, citizens in these markets have increasingly used DeFi platforms as their primary means of obtaining cryptocurrencies.
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African startups and businesses interested in seed funding and partnerships may apply here: https://emurgoafrica.vc/
Adaverse investments Africa Adaverse investments Africa
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