Digital Assets: Swiss Venture Firm CV VC Launches African Blockchain Early-Stage Fund; Issues African Blockchain Report

https://dailyalts.com/wp-content/uploads/2022/05/Africa-Blockchain-Report-Grab.jpg

Private Swiss venture firm Crypto Valley Venture Capital prefers to be called CV VC.

CV VC announced Monday at Davos the launch of its African Blockchain Early-Stage Fund to bring the advantages of the blockchain and its own expertise to enable Africa to transact and interact for the well-being of its people and economies.

The firm is seeking to build on its track record of investing in 12 startups where blockchain use cases extended past cryptocurrencies to drive Africa’s future.

“As the world enters the decade of the fourth industrial revolution, building on blockchain as a transformative tech, it is worth recanting the main theme of this year’s WEF, ‘Working Together and Restoring Trust’, ” said Mathias Ruch, Co-Founder of CV VC. “This is what CV VC intends to do with other drivers in Africa.”

The blockchain and Africa

CV VC observes that the blockchain is powering Africa from the bottom-up and that essential industries including agriculture, mining, remittances, inclusion, identity, and property, were adopting blockchain technology.

Yet, blockchain funding in the continent was only miniscule: “Funding of $127 million in all of 2021 is similar in size to a single blockchain ‘mega-deal’ of which there were 59 globally.”

However, there were encouraging signs in that African blockchain companies raised $91 million in Q1 of 2022, an impressive 1,668% YoY increase from Q1 of the previous year.

Regulatory progress and the fast adoption of crypto also augured well for the uptake of the blockchain in Africa.

CV VC plans to set up the first-ever, blockchain-focused Accelerator for Africa in partnership with the Swiss State Secretariat for Economic Affairs (SECO).

This Accelerator aims to fund 100 startups over the next four years.

African Blockchain Report

CV VC also issued on the occasion the inaugural African Blockchain Report in collaboration with Standard Bank.

“Many Africans cannot rely on vast, centralized, regulated infrastructural systems,” said CV VC. “They are often riddled with inefficiencies and red tape in the cases where they exist. As a result, innovation is blessed with a clean slate on which to paint, and progressive advances seem to follow.”

According to CV VC, Africa has self-accelerated blockchain as a transformative force for society and the economy.

Related Story: Crypto in Africa; Revolution or Mirage?

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/07/graph-g80f55d5ee_640.png
FinTech: Klarna’s Valuation Plunges To $6.5B In Talks To Raise $650M (WSJ)
July 1, 2022     FinTech, Latest News, News

Klarna, the Swedish fintech known for its buy-now-pay-later (BNPL) financial product, is negotiating to raise $650 million at a valuation of $6.5 billion, which is a very sharp comedown from…

https://dailyalts.com/wp-content/uploads/2022/07/woman-g9c1c89a51_640.jpg
Venture Capital: OppZo, Which Funds Small Businesses Having Government Contracts, Raises $260M
July 1, 2022     News, Venture Capital

Fintech OppZo brings together investors and small businesses that need working capital loans for their government-facing businesses. Typically located in economically stressed areas of the country, these businesses represent an…

https://dailyalts.com/wp-content/uploads/2022/07/block-chain-gb76db3143_640.jpg
Alternative Investments/Digital: Jacobi To Launch Europe’s First Bitcoin ETF This Month

The Jacobi Bitcoin ETF, from Jacobi Asset Management, will have a number of firsts to its credit when it starts trading this month. It will be the first exchange-traded equity…

https://dailyalts.com/wp-content/uploads/2022/07/r4f167378_rrd.jpg
Artificial Intelligence: John Deere’s Advances in AI Powered Agriculture Machinery
July 1, 2022     Artificial Intelligence, News

John Deere (NYSE: DE) has achieved leadership in automated machinery powered by Artificial Intelligence (AI). The self-driving tractor pictured above was revealed in CES 2022 and has six pairs of…