GreenHouse Capital and EMURGO Africa have signed an agreement to collaborate on building an investment and advisory platform focused on fintech and cryptocurrency startups in the Middle East and Africa. As per the agreement, the two firms will co-invest in blockchain, Web3, and fintech startups.
EMURGO Africa is a subsidiary of Cardano’s founding organization, EMURGO, while GreenHouse Capital is a leading fintech investment fund in Africa.
The statement released on April 26 highlighted that African startups raised more than $5 billion in funding in 2022, with the majority coming from the fintech sector. Additionally, blockchain raised a significant amount year-on-year.
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Yosuke Yoshida, co-CEO of EMURGO Middle East & Africa, stated that Africa has the world’s youngest population and one of the world’s fastest adoption rates of blockchain. Yoshida believes that these factors will drive Africa’s technological revolution in the years to come, led by fintech and Web3 technologies.
Bunmi Akinyemiju, CEO of GreenHouse Capital, said, “We’ve been working together for over a year now, co-investing in best-in-class companies such as Busha, ScaleX, and Bitmama. We at Greenhouse are thrilled to be taking our partnership to the next level by solidifying how we work together to drive adoption of Web3/Blockchain and crypto by governments, private enterprises, and individuals.”
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The partnership aims not only to invest in innovative Web3 projects but also to provide advisory services to ensure that selected projects grow in global marketplaces.
EMURGO Africa Web3 EMURGO Africa Web3
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