Swiss VC Launches African Blockchain Early Stage Fund

Crypto Valley Venture Capital has announced the motorboat of an early-stage money for African blockchain startups. Already, the task superior steadfast has invested successful 12 startups whose usage cases spell beyond crypto.

Uses Cases Beyond Crypto

The Switzerland-based task superior (VC) firm, Crypto Valley Venture Capital (CVVC), has launched an African blockchain early-stage fund. The VC has partnered with the Swiss State Secretariat for Economic Affairs (SECO) successful this endeavor, a connection released by CVVC has said.

In the aforesaid statement, the VC said the nonsubjective of the accelerator is to money immoderate 100 startups from Africa successful the adjacent 4 years. Already, CVVC has invested successful 12 startups whose blockchain usage cases spell beyond cryptocurrencies. Also, done the caller fund, the VC volition proceed to play its relation arsenic a “leading enabler.”

Remarking connected CVVC’s motorboat of the blockchain money arsenic good arsenic the publishing of the inaugural African Blockchain Report, Véronique Haller, Chargée d’affaires astatine the Swiss Embassy successful South Africa said:

Blockchain has the imaginable to beryllium a catalyst for affirmative alteration and signifier the aboriginal of our continent. With information successful and astir blockchain successful Africa inactive scarce, the archetypal Africa Blockchain Report volition beryllium an important milestone. And let’s stake that Africa volition soon beryllium location to its archetypal blockchain unicorn.

‘Data-Driven Account’ of the Blockchain successful Africa

The VC firm’s Gideon Greaves, successful the meantime, is quoted explaining the nonsubjective down the publishing of the archetypal blockchain report. He said: “Our nonsubjective with the African Blockchain Report is to stock a data-driven relationship of blockchain successful Africa and statesman an yearly collation of benchmarkable task information and solidly referenced African insights.” Greaves besides revealed that the study is focused connected 40 African blockchain companies.

Meanwhile, successful the study that was published successful collaboration with Standard Bank, CVVC observed that Africa “has self-accelerated blockchain arsenic a transformative unit for nine and the system and however pioneers proceed to reenforce the request for much unified enactment connected regularisation and infrastructure.”

The report, according to the VC firm’s statement, besides “depicts a unsocial holistic overview of blockchain successful Africa, which volition facilitate funders to marque a amended judgement of Africa’s concern potential.”

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