CV VC launches an African Blockchain Early Stage Fund

CV VC today announced the launch of its African Blockchain Early-Stage Fund and published the inaugural African Blockchain Report which provides a compelling structural overview of the emerging blockchain sector and rousing insights regarding its funding. It highlights that blockchain funding far outpaced all other sectors, eleven times. The findings demonstrate how nations and stakeholder capitalists are beginning to step in and embrace Africa’s self-determining participation in the fourth industrial revolution.

While it is a fact that African nations are amongst the fastest crypto adopters globally, today’s CV VC report moves past crypto. It looks at the underlying revolutionary blockchain movement, set to enable Africa to transact and interact for the well-being of its people and economies.

• Companies raised $91 million in Q1 of 2022, a staggering 1,668% YoY increase from Q1 of the previous year.
• When comparing Q1 2021 vs. Q1 2022, venture funding for African blockchain startups far outpaces the growth seen in general African venture funding – 1,668% vs. 149% –  showing 11 times the level of growth on a YoY basis. 
• Africa is the fastest adopting crypto continent globally, yet it has only a 0.5% share of total global blockchain venture funding, which stands at $25.2 billion 
• African blockchain funding of $127 million in all of 2021 is similar in size to a single blockchain ‘mega-deal’ of which there were 59 globally
• The regulatory quagmire is clearing as 6 nations have regulated, and others are making headway
• Blockchain in Africa is unique as it is driving from the bottom up, where essential industries are propelling forward with blockchain tech; agriculture, mining, remittances, inclusion, identity, and property, to name a few

Crypto Valley Venture Capital (CV VC), as an initiator of Crypto Valley – the world’s most mature blockchain hub, with an enviable regulatory landscape and 14 blockchain Unicorns, intends to lend its renowned expertise to enable Africa, the world’s second-largest continent in both size and population to achieve its true potential. As a blockchain investor and builder of international startup ecosystems, CV VC commits to investing in the broader applicability of blockchain to solving problems and creating new markets beyond crypto.

CV VCs’ public-private partnership with the Swiss State Secretariat for Economic Affairs(SECO), intends to see CV VC build the first-ever, blockchain-focused Accelerator for Africa. The goal of this Accelerator is to invest in 100 startups from the African continent over the next 4 years. To date, CV VC has invested in 12 startups where blockchain use cases go far beyond cryptocurrencies to drive Africa’s future. CV VC intends that it will act as a leading enabler, through the launch of its African Blockchain Early Stage Fund.

The inaugural African Blockchain Report, published by CV VC in collaboration with Standard Bank, highlights that obstacles to global transformations seem surmountable when seeing Africa’s urgent actions to utilize blockchain becoming the norm. The report shows in detail how Africa has self-accelerated blockchain as a transformative force for society and the economy and how pioneers continue to reinforce the need for more unified action on regulation and infrastructure.

Most notable in the report is the evidence of the brilliant mindset, energy, and tech capability of the many great founders who are leading the African blockchain revolution in a manner that is exemplary to the rest of the world. 

Concluding today’s launch of The African Blockchain Report, Ian Putter, Head, Blockchain CoE&CA Training Office at Standard Bank Group, the largest African bank by assets, said,”Africa matters. Africa is a reminder that life matters and that there is a great need for everyone to work together to enable humanity to be well in all ways. The immediacy of existential threats as experienced by Africans requires a different pace. Africa’s difficulties are compounded by the pandemic that has disrupted revenues, foreign direct investment, development assistance, remittances, trade, and tourism, and not forgetting the effects of war. African economies are in danger of even further marginalization due to macro trends towards economic deglobalization. The silver lining has been the self-fast-tracking of Africa’s digital and tech economy. This has already bolstered resilience as a road map to how and why the world needs to embrace blockchain as a transformative technology. Standard Bank has been a pioneer in leveraging blockchain to bring speed and transparency to our customer base across Africa. We are very excited to work with CV VC as a blockchain ambassador to enable the further emergence of blockchain, as a resource on which Africa can build and outreach globally”.