Venture investor CV VC announces support for blockchain startups in Africa

Crypto Valley Venture Capital, better known as CV VC, is creating a special fund to support African blockchain startups. Representatives of the company made this statement during a speech at the Blockchain Hub within the Davos Forum.

According to the press release, the fund plans to invest in a hundred startups over the next four years, of which 12 have already received investments. Projects in which blockchain technology can be used not only within digital currencies are of particular interest to the company. It is expected that they will be able to ensure a decent future for African countries, and the fund will raise from 10 to 50 million dollars. In the recent African report on blockchain, the Swiss company draws attention to the active development of this direction in African countries. The continent’s fastest-growing digital currency market attracts serious investment from big players. For example, Coinbase and Alameda invested $23 million in the Mara cryptocurrency exchange earlier in May. According to the forecasts of co-founder and CIO Olaf Hanneman, mainly Egyptian, Kenyan, Ghanaian, Nigerian startups, and developers from South Africa will cooperate with the fund. At the same time, it is emphasized that there are no restrictions on the location of companies. The investor is looking for the best projects and is ready to finance startups from any African region. Among the lucky ones who have already received funding are the Nigerian project Leading House Africa, which provides land registration on the blockchain, and the Ghanaian mobile payment platform Mazzuma.