In a public-private partnership with the Swiss State Secretariat for Economic Affairs (SECO), CV VC is launching a blockchain focused Accelerator for Africa. The goal is to invest in 100 Startups from the African content in the next 4 years.
This was announced by CV VC CEO, Mathias Ruch, during the Africa FinTech Festival in Mauritius. In his presentation to the Africa FinTech Festival in October 2021, Mathias explained that CV VC is investing in blockchain startups and that the company’s goal is to invest in 100 African start-ups in the next four years through a blockchain accelerator
Headquartered in Zug, Switzerland, and with offices in Liechtenstein, Africa, and UAE, CV VC is a private venture capital firm that invests in global tech disruptors who are driving the fourth industrial revolution with blockchain. CV Labs is the heartbeat of Crypto Valley, Switzerland’s Blockchain hub.
Mathias highlighted that CV VC already has 5 African startups on its portfolio and 5 additional startups in the pipeline to join its accelerator.
In 2021, CV VC, as part of its expansion into Africa, selected 4 startups to join its incubation programme, which comes with $125, 000.
These startups are:
Mazzuma – An international remittance and mobile money platform from Ghana
HouseAfrica – A digital property validation system from Nigeria
Pravica – A decentralized communication suite for enterprises in Egypt
Carma – A Nigerian P2P data marketplace for the unbanked
Here are the CEO’s exact words that communicated his enthusiasm for blockchain in Africa.
“The true use cases of blockchain are to be found on the African continent. That is where we see the strong potential with the combination of blockchain technology and the economic potential of Africa.
What we see from Sub-Saharan Africa companies is really fantastic and we are thrilled with the quality and the rate of innovation that we see in our process currently.”
– CEO, CV VC
Mathias explained that the CV Labs Africa Accelerator is investing at the pre-seed stage, which usually represents the first institutional money in cash or in kind, and that CV VC receives tokens or equity in return. Moreover CV VC will run different verticals where it sees the greatest opportunities, namely supply chain management, healthcare, FinTech and government, and would also work with corporates.
CV VC aims to have 25 startups per batch starting from 2022 which would benefit from exposure to over 70 mentors to support their growth ambitions.