Swiss blockchain investor Crypto Valley Venture Capital (CV VC) and its ecosystem company CV Labs have selected Cape Town as the location of their African-based blockchain incubation hub.
Switzerland-headquartered CV VC is a private venture capital company that offers seed funding and an incubation programme to global tech teams in exchange for equity.
In a statement, the company says CV Labs Cape Town is the first dedicated place in Africa that will enable blockchain start-ups to flourish, with the aim to be the heartbeat of the African blockchain ecosystem.
It further notes the opening of CV Labs Cape Town is a culmination of Switzerland and SA’s engagement with blockchain technology, following the bilateral education, research and innovation cooperation that began in 2019.
In addition to the Cape Town location, CV Labs already has blockchain hubs in Switzerland (Zug) and Liechtenstein (Vaduz), with a Germany (Berlin) launch also in the pipeline, it states.
Gideon Greaves, MD of CV VC Africa, states: “Our commitment to Africa is to enable blockchain start-ups to catalyse greater socio-economic wellbeing for its people and industries. Following our investment in 12 African start-ups, and publishing the inaugural African Blockchain Report in association with Standard Bank, CV VC has demonstrated its deep commitment to the region by opening the CV Labs Cape Town hub.
“We are equally excited about the forthcoming launch of our African Blockchain Early Stage Fund, which will allow global investors to invest alongside CV VC in African tech expertise.”
CV VC points out the African continent is embracing the newfound independence that blockchain technology provides, noting Africans see new-age technology as a means of improving everyday life while solving fundamental difficulties.
Ian Putter, head of Blockchain Centre of Excellence at Standard Bank Group, and regional director of the Blockchain Research Institute Africa, adds: “I believe the real potential for exponential leaps in financial inclusion lies in the blockchain infrastructure that underpins crypto assets rather than in the assets themselves.
“We are very excited to see the opening of CV Labs Cape Town, as it will enable the further emergence of blockchain as a resource from which Africa can build great blockchain enterprises.”
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