Over time, the African cryptocurrency sector has grown, transforming how transactions are done. Several crypto projects like Defi, Solana, and Chainpet have been created due to the high level of operations in the crypto space. These projects all aim to smoothen operations in blockchain systems and make good profits while doing so.
Like every business establishment, crypto projects also require investors to provide the funds to help fuel the project so it can run smoothly. Undoubtedly, investors are critical to startups because they can help them gain momentum and move forward by giving them money. Consequently, this article covers some of the top crypto investors for Africans.
1. Coin Base Ventures
Coinbase Ventures is a part of Coinbase that invests in blockchain and cryptocurrency companies when they are just starting. Since its establishment in 2018, CB Insights investment data shows that Coinbase Ventures has participated in 297 deals and backed 277 start-up businesses worldwide through June 2022.
They make investments across many areas, including layer one protocols, Web 3 infrastructure, centralized on-ramps, decentralized finance, NFTs, metaverse technologies, developer tooling, and more.
2. The Baobab Network
The Baobab Network is an accelerator explicitly created for Africa. It helps African businesses in their early stages by giving entrepreneurs $25k in funding and a global platform to help them grow.
Since it started in 2015, the Baobab network has invested in 25 startups. Lendha, Good Talent, sidebrief, Mighty Finance, and Opus Analytic.
3. Digital Currency Group
The Digital Currency Group is a venture capital firm that invests in the market for digital currencies. It is situated in Connecticut’s Stamford. The corporation includes five companies: Grayscale Investments, CoinDesk, Foundry, and Foundry Genesis.
So far, the Digital Currency Group has backed up about 256 companies. On September 9, 2022, as part of their Seed VC, they made their most recent investment in Kwil.
4. Block Ventures
Block Ventures is a venture capital firm that invests in decentralized applications (dApps), initial coin offerings (ICOs), and other areas related to blockchain. They have put money into some of the most essential and profitable blockchain technology companies, from the start-up stage to the growth stage. Some of its African crypto investments include Mazzuma, HouseAfrica, CARMA, Pravica, and Monero.
5. Arbi Khodagholian
Arbi Khodagholian is a venture capitalist and Block Ventures’ founding partner. Arbi is solely committed to investing in the crypto and blockchain technology sectors. Since 2013, Arbi has put money into blockchain technology startups that are on the cutting edge and into creative entrepreneurs who want to push the limits of what is possible.
Arbi Khodagholian has made six start-up investments since its founding, and Monero, a decentralized cryptocurrency created by an African, is one of them.
6. Pantera Capital
Pantera Capital is an American hedge fund with a focus on cryptocurrencies. According to AUM, it is the biggest cryptocurrency hedge fund in the world. It introduced its Bitcoin-specific investment fund in the US in 2013. Pantera managed $5.6 billion worth of assets as of January 2022.
In its most recent funding round, Pantera Capital gave money to the African cryptocurrency exchange VALR.com. According to CEO Farzam Ehsani, VALR.com raised $50 million, the most significant sum ever raised by an African cryptocurrency company.
7. CMT Digital
CMT Digital is a venture capital firm that works in the blockchain and crypto asset industries. It is a division of the CMT Group and focuses on investments in blockchain technology and the trading of digital assets.
CMT Digital Ventures has put money into 96 companies. Nestcoin, VALR, and Volt Capital are three African cryptocurrency companies that CMT Digital Ventures has invested.
8. Launch Africa
Over $24 million has been invested in Launch Africa’s portfolio companies by more than 238 private and institutional investors from more than 40 countries. According to the organization, it has supported over 100 startups, such as House Africa.
9. Azure Ventures Group
Azure Ventures Group is a venture capital fund that invests in and accelerates early-stage technology-focused businesses. It was founded in 2020 and is headquartered in Los Angeles, California.
Since its inception, it has founded five startups, which include African crypto projects such as Ripple and Mara.
Conclusion
The cryptocurrency sector has grown rapidly, leading to many projects and investments.
The first benefit of having someone invest in your business is that you can get past financial problems that stop a company from growing and getting better. Also, investors provide more than just financial support. Some of them bring knowledge that will help your project succeed long after they have left. They can also help you set up some meetings where you can practice your sales pitch.
Finally, whether you’re using crowdfunding or leaning toward the private investment market, choosing the right startup investors can make or break your business, so choose wisely.
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