“50% of startups in our portfolio have raised follow-on funding” – Brenton Naicker, Crypto Valley VC
- Crypto Valley VC's Africa Blockchain Fund has invested $20 million in 13 startups across Nigeria, South Africa, Kenya, Egypt, and Ghana since 2022.
- The fund initially committed $125,000 for a 7% convertible note but revised it to $150,000 for a 6% note to better support African startups.
- Approximately 50% of the startups in the fund's portfolio have successfully raised additional funding.
The investment activity in Africa's blockchain sector, particularly by firms like CV VC and Circle Ventures, indicates a burgeoning ecosystem that is overcoming traditional challenges. However, the rarity of exits suggests that while potential exists, the path to profitability and sustainability remains complex. Further discussions could explore how these investments can lead to scalable solutions that address local needs.
