Crypto Valley Venture Capital (CVVC), a Swiss venture capital company, has announced an African blockchain early-stage fund. In this initiative, the VC has worked with the Swiss State Secretariat for Economic Affairs (SECO), according to a CVVC statement.
The VC said that the accelerator’s goal is to invest in 100 African businesses over the next four years. CVVC has already invested in 12 firms with blockchain applications beyond cryptocurrency. The VC will also continue to perform its role as a leading facilitator via the new fund.
Véronique Haller, Chargée d’affaires at the Swiss Embassy in South Africa, said of CVVC’s blockchain fund and the publication of the first African Blockchain Report that Blockchain has the opportunity to be a trigger for good change and affect the future. The inaugural Africa Blockchain Report will be a significant milestone since data on, and surrounding blockchain in Africa is currently rare. And you can guarantee that Africa will have its first blockchain unicorn shortly.
Meanwhile, Gideon Greaves of the VC company describes the goal of issuing the first blockchain study. With the African Blockchain Report, our goal is to give a data-driven account of blockchain in Africa and start an annual collection of benchmarkable venture data and well-referenced African insights. Greaves also said that the research would concentrate on 40 African blockchain firms.
In the meantime, CVVC said in a paper co-authored with Standard Bank that Africa has self-accelerated blockchain as a revolutionary force for society and the economy, and how innovators seek to underscore the need for more coordinated action on legislation and infrastructure.
The analysis also depicts a unique, comprehensive perspective of blockchain in Africa, which will assist investors in making a good judgment of Africa’s investment opportunities.