Swiss VC Launches African Blockchain Early Stage Fund – Crypto Valley Venture Capital (CVVC), a Swiss venture capital firm, has announced an African blockchain early-stage fund. In this endeavor, the VC has collaborated with the Swiss State Secretariat for Economic Affairs (SECO).
In the same statement, the VC stated that the accelerator’s objective is to invest in 100 African startups over the next four years. CVVC has already invested in 12 firms with blockchain applications that go beyond cryptocurrency. The VC will also continue to play its role as a “leading enabler” through the new fund.
Véronique Haller, Chargée d’affaires at the Swiss Embassy in South Africa, commented on CVVC’s launch of the blockchain fund and the publication of the inaugural African Blockchain Report:
Blockchain has the ability to be a catalyst for positive change and to impact our continent’s future. The first Africa Blockchain Report would be a significant milestone because data on and surrounding blockchain in Africa is still rare. And you can bet that Africa will have its first blockchain unicorn shortly.
Meanwhile, Gideon Greaves of the VC firm is quoted as describing the goal of issuing the first blockchain report. “With the African Blockchain Report, our goal is to give a data-driven account of blockchain in Africa and to start an annual collection of benchmarkable venture data and well-referenced African insights,” he said. Greaves also stated that the report will focus on 40 African blockchain firms.
Meanwhile, CVVC stated in a paper co-authored with Standard Bank that Africa “has self-accelerated blockchain as a transformative force for society and the economy, and how pioneers continue to emphasize the need for more coordinated action on regulation and infrastructure.”
The report also “depicts a unique comprehensive overview of blockchain in Africa,” according to the VC firm’s release, “which will facilitate funders to create a better judgment of Africa’s investment potential.”