Zug-based venture capital company specializing in blockchain startups CV VC is expanding into Africa in partnership with the Swiss government and has opened an office in Cape Town.
Swiss blockchain investment company Crypto Valley Venture Capital has opened an office in Cape Town headed by experienced startup entrepreneur Gideon Greaves with the aim of investing in 100 startups over the next four years, CV VC said in a press release Friday.
CV VC will be partnering with the Swiss State Secretariat for Economic Affairs (Seco), the Swiss Foreign Ministry and local stakeholders.
The joint project aims to support the development of an independent blockchain ecosystem in South Africa by transferring know-how and experience from Switzerland’s Crypto Valley to serve as a hub for Africa.
Highest Adoption Rates
According to the Global Crypto Adoption Index, South Africa, Kenya and Nigeria have the highest adoption rate of crypto and blockchain applications, and South Africa is considered to be a blockchain hub.
The press release said that the Swiss Embassy in South Africa would establish a blockchain chair at the University of Johannesburg in September n close cooperation with the University of Zurich, financed in equal parts by Switzerland and South Africa.
Africa Advisory Board
It added that a CV VC Africa Advisory Board would be launched with high-profile individuals from sub-Saharan Africa to promote the blockchain startup ecosystem there,
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 said it plans to open an office in Southeast Asia in addition to those it already has in Dubai and Vaduz.
