Crypto Valley Venture Capital (CV VC), a Swiss-based blockchain-focused investment firm, has backed 13 startups across Nigeria, South Africa, Kenya, Egypt, and Ghana, through its $20 million Africa Blockchain Fund.
The company says the fund began with an initial commitment of $125,000 for a 7% convertible note, but after confronting the realities of operating in Africa, it revised its model to $150,000 for a 6% note.
According to Brenton Naicker, CV VC’s Principal and Head of Growth, the adjustment was necessary to help African founders build stronger foundations.
“We are in a very privileged position to have had approximately 50% of the startups in our portfolio go on to raise further funding,” said Naicker. “Beyond that, our companies are serving tier-one clients across the continent, such as Standard Bank and Visa, and their work has been recognised globally.”
What You Should Know
More than half of CV VC’s portfolio sits in fintech, mirroring broader investment trends across Africa. Naicker explained that fintech remains the most mature vertical in both traditional and blockchain-focused venture funding on the continent.
“In the traditional space, roughly half of all venture dollars on the continent go to fintech, and we see the same in blockchain,” said Naicker. “It is the most mature vertical, with startups that show the strongest traction and scalability.”
Among its notable investments is Ivorypay, a Nigerian startup enabling small businesses to accept crypto payments. CV VC says Ivorypay has processed over $100 million in total payment volume (TPV) and secured additional funding.
In South Africa, Altify, an alternative investment platform, boasts over 70,000 users and $20 million in assets under management. Another recent addition is TurnStay, a tourism and travel payments company, which closed a $2 million seed round in July.
According to CV VC, it has also invested in Shamba Records, a Kenyan agritech venture leveraging blockchain for regenerative agriculture, already earning media recognition for its social impact.
What This Means for Africa’s Web3 Ecosystem
Market experts say CV VC’s sustained activity represents more than capital injection, it signals growing institutional confidence in Africa’s blockchain future.
With over $470 million raised by African blockchain startups between 2021 and 2023, the continent has become one of the world’s fastest-growing region for blockchain funding, even as global crypto investment slowed.
This momentum underscores Africa’s use cases for blockchain technology: financial inclusion, cross-border payments, supply-chain traceability, and agricultural transparency. By expanding early-stage support, CV VC and its partners are helping bridge the funding gap that has long constrained African founders.
Tech leaders say this trend suggests that Africa’s blockchain story is shifting from speculation to utility-driven innovation, where startups are solving tangible economic challenges using decentralised tools.
A Long-Term Commitment to Africa
As the Africa Blockchain Fund nears full deployment, CV VC has signalled plans to launch another Africa-focused fund, though Naicker declined to reveal how much capital remains unallocated in the current vehicle.
“As soon as this fund is done deploying, we will then have another fund that will be deploying on the African continent,” said Naicker. “We intend to stay here.”
For a continent still defining its role in the next digital revolution, experts say CV VC’s continued commitment offers both validation and momentum.
As global blockchain leaders turn their eyes to Africa, industry leaders noted that it is increasingly clear that the next wave of Web3 innovation may not come from Silicon Valley, but from Lagos, Nairobi, and Cape Town.
Talking Points
It is noteworthy that Crypto Valley VC (CV VC) has maintained a long-term view on Africa’s Web3 potential, showing that blockchain innovation on the continent is no longer just an experimental phase but an emerging investment class.
At Techparley, we see this as a strong validation of Africa’s growing credibility in the global blockchain space. The fund’s structure; offering early-stage cheques of up to $150,000 demonstrates an understanding of local startup realities and the need for patient, adaptable capital.
The fact that nearly half of CV VC’s portfolio companies have gone on to raise additional funding highlights both investor confidence and the quality of innovation emerging from African Web3 startups.
CV VC’s strategy aligns with the broader narrative that Africa’s digital economy is not just growing but localising innovation to meet its own needs. It’s about blockchain meeting Africa where it truly matters: in financial inclusion, agriculture, logistics, and sustainable development.
With the Africa Blockchain Fund nearing full deployment and a new fund already on the horizon, Crypto Valley continued commitment signals long-term confidence in Africa’s innovation ecosystem.
