At the CV Summit held in Cape Town on 25 April, investors expressed renewed confidence in the African blockchain startup ecosystem. In 2022, the global crypto and blockchain industry entered a crypto winter as investments in the sector slowed significantly. Africa was not spared.
That slowdown caused several African blockchain and crypto startups to lay off staff, sell assets or shut down.
However, a changing crypto landscape is restoring investor confidence in the African foray into blockchain innovation. Investors cited improving regulatory environments, innovative startups, and widespread blockchain adoption by consumers and enterprises as the reasons for optimism.
One of the investors putting money where their mouth is Swirtzland-based Crypto Valley VC, which has raised the Africa Fund, focused on investing in African crypto and blockchain startups. The fund invests up to $135,000 for 7% on a convertible note. It also makes direct and follow-up investments in seed, pre-Series A, and Series A rounds; ticket sizes are between $200,000 and $500,000.
According to Mathias Ruch, founder and CEO of CV VC, the evolving use cases of crypto and…
Ephraim Modise
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https://techcabal.com/2024/04/29/cvsummit-review/
