Friday, March 29, 2024
No menu items!
spot_imgspot_imgspot_imgspot_img
Ad

Top 5 This Week

bama cap

Related Posts

Swiss Investment Company CV VC Builds Up a Blockchain Ecosystem in South Africa

Crypto Valley Venture Capital or CV VC , a Swiss investment company, has been successfully investing in early-stage startups from around the world for two and a half years.

These companies develop products, applications and services based on blockchain technology. After having opened CV Labs in Zug, Vaduz (Liechtenstein) and Dubai, CV VC is now opening its first office on the African continent in Cape Town

More and more blockchain applications are being implemented across the African continent. According to the 2020 Global Crypto Adoption Index, South Africa, Kenya and Nigeria have the highest rates of crypto and blockchain adoption worldwide. It was highlighted that there is a very high understanding of the potential of this technology in South Africa in particular.

- Ad -

CV VC’s goal in Africa, together with partners from the Swiss State Secretariat for Economic Affairs (SECO), the Federal Department of Foreign Affairs and local stakeholders, is to invest in 100 startups that have the potential to tackle the challenges of the African continent over the next four years. The SECO signed a special agreement with CV VC.

 The joint project aims to support the development of an independent ecosystem in South Africa by transferring know-how and experience from Swiss Crypto Valley to serve as a hub for Africa.

- Ad-

CVVC is seeking to leverage upon the aspirations of the Swiss Government, which is setting a foreign policy focus on its Africa Strategy. “The region is becoming increasingly important, also for Switzerland,” says Foreign Minister Ignazio Cassis, referring to Africa’s significant political, economic, cultural and scientific potential.

“We are happy to start our Africa chapter with an initial foothold in South Africa, a thriving hub for entrepreneurs, developers and creatives and an already well-established startup and technology ecosystem. With the experience and know-how from Crypto Valley, including infrastructure providers, an enabling regulatory framework and our global network, we will be able to accelerate growth for blockchain startups and grow the blockchain ecosystem in all of Africa”, said Mathias Ruch, CEO and founder of CV VC.

- Ad -

Gideon Greaves , Managing Director Africa, said “I’m incredibly excited to be a part of CV VC’s journey into Africa. Being a leapfrog population, we are in a prime position to adopt this disruptive technology and I believe this continent can lead the crypto and blockchain charge”, commented Gideon Greaves.

In close cooperation with the University of Zurich, the Swiss Embassy in South Africa will establish a blockchain chair at the University of Johannesburg in September, financed in equal parts by Switzerland and South Africa.

CV VC has created a bespoke incubation program and invested in 27 blockchain startups from Switzerland, Europe, the Americas and Africa. Four of them have African roots.

To promote the blockchain startup ecosystem in Africa, the CV VC Africa Advisory Board will be launched with high-profile individuals from the sub-Saharan region (South Africa, Nigeria, Kenya, Rwanda, Congo and other countries).

As its first member, Cape Town-based entrepreneur and co-founder of Proof of Impact, Fleur Heyns, will help connect CV VC with business, political, academic and community figures. CV VC already has a Global Advisory Board, chaired by Philipp Rösler, former German Vice-Chancellor and Director of the World Economic Forum.

Early-stage startups building applications based on blockchain technology will join the global CV Labs incubation program in Zug, Switzerland.

 The next program starts at the end of September. Applications are open via cvlabs.com/incubation.

 The five most promising projects will be invited to the program in Switzerland or virtually, depending on the pandemic situation. The selected startups will receive an investment of up to USD 125,000.

In addition, investors can participate in the growing startup portfolio of the Zug-based company through investment products launched in cooperation with Swiss Asset Manager partners. The first “Technology for Tomorrow” certificate has just been launched.

- Ad -
Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

Popular Articles