Adaverse is a leading investment company that focuses on blockchain and cryptocurrency projects. The company has recently announced its vision for 2023, which is to support excellent startups in Africa, Southeast Asia, and other regions by sharing the development dividends of the continuously prosperous Cardano ecosystem. As Cardano’s official accelerator for Africa, Adaverse has established itself as a key player in the African market, benefiting from the business and technical resources of EMURGO and IOG, Cardano’s commercial and developmental arms respectively.
Adaverse’s structure as a joint venture between EMURGO and Everest Ventures Group (EVG) has allowed it to expand beyond Cardano and synthesise Asian expertise with the innovative development of Web3 in Africa. The company aims to explore untapped territories in Southeast Asia, such as Vietnam and Thailand, while also supporting the development of Web3 infrastructure for remittance payment and freelance market.
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Adaverse seeks to invest in startups between Seed and Series A with an MVP and ideally, revenue, with ticket sizes typically ranging between $100k and $300k. The company offers technical, strategic, and operational expertise to accelerate companies through project development, tokenomic design, roadmap creation, legal advisory, and community and marketing development. Its extensive network allows quick and relevant access to Cardano’s wider ecosystem with an emphasis on liquidity support.
In the past year, Adaverse has invested in and accelerated over 35 companies across a variety of sectors, including Web3, exchanges, NFTs, gamefi, DeFi, and proptech. These companies are spread across 10 countries, representing unprecedented market penetration across Africa and Asia. Adaverse’s focus in Africa has been on companies adding tangible real-world value to consumer pain points, such as Afriex, Seso Global, Ejara, Canza Finance, and Cassava Network. In Asia, Adaverse has explored more infrastructural startups with an emphasis on service provision, such as Kaya Labs, Conjure Games, and REAP.
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Adaverse’s ‘Program Hub’ is released for portfolio companies seeking to access both internal and external accelerator resources on demand. The company’s in-house podcast series, ‘BuildUp Africa,’ features its portfolio companies and offers a platform for discussion on the benefits of Cardano for their respective solutions.
Adaverse’s aim to connect Africa with Asia through the Cardano ecosystem is based on the belief that developing countries lacking financial tools represent both a challenge and an opportunity. Its focus on Africa has helped the Cardano ecosystem gradually take root in the African continent, and has also attracted a sufficient number of seed users. Adaverse is also devoted to connecting the African market with other global markets, such as Asia and the United States.
Overall, Adaverse is actively backing startups in Africa and beyond, offering funding, technical expertise, and a wealth of resources to accelerate growth and create lasting impact. By connecting startups with the Cardano ecosystem, Adaverse is driving innovation and creating opportunities for economic growth in developing regions.
Adaverse startups Africa Adaverse startups 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