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Crypto Valley Venture Capital Has Launched A Blockchain Fund Focused On Africa

Crypto Valley Venture Capital (CV VC) is launching an Africa-focused fund to support blockchain startups on the continent, according to an announcement made at the World Economic Forum in Davos, Switzerland.

Crypto Valley Venture Capital Has Launched A Blockchain Fund Focused On Africa

Investing in 100 African Startups in 4 Years

Valley Venture Capital is to invest in 100 startups in the African continent over the next four years and aims to raise between $10 and $50 million through the fund. The fund has already invested in 12 startups including Leading House Africa, a startup from Nigeria that will allow land registration on the blockchain, and Mazzuma, a mobile payments platform from Ghana.

According to Olaf Hannemann, co-founder and CIO of CV VC, most startups are expected to originate from South Africa, Nigeria, Kenya, Ghana, and Egypt but it is open to funding projects from the entire continent.

Valley Venture Capital Funding in Africa

Crypto Valley Venture Capital Has Launched A Blockchain Fund Focused On Africa

On Monday, CV VC published the African Blockchain Report, which highlighted the growth of the blockchain sector in Africa. According to the report, blockchain startups in Africa were to raise $91 million within 2022’s first quarter. Compared to the first quarter of 2021, this year showed a 1,668% year-on-year (YoY) increase in cash inflow compared to 2021’s YoY of 149% which is an increase of more than 11 times.

In addition, the report also highlighted that while Africa has not yet seen a “blockchain mega-deal,” it predicts that within 2-3 years, unicorns may emerge from the region’s crypto and blockchain scene amid interest in venture capital funds in the region.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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