Every startup makes a bet. The founders have an idea, are convinced of their business model and build a network with partners, investors and suppliers. Besides strong execution and luck, building sustainable and trustworthy networks is one of the crucial factors that determine success and failure.
The year 2020 has caught most startups on the wrong foot. It was a real “Black Swan.” No one had Covid on their radar. But Crypto Valley, and with it, the vast majority of early-stage startups survived. Once again, it became apparent that the blockchain and crypto space is much more than a brand or a marketing construct. Crypto Valley is a sustainable, resilient and highly innovative network that has defied the Corona pandemic. This is also reflected in the year-on-year comparison, in the number of companies and employees.
CV VC’s portfolio startups have used the time to move forward. After a brief period of uncertainty during the first lockdown phase at the beginning of 2020, they turned to their strengths and networks and invested in both. Resilience was also visible in the startups, which were able to reduce costs on the one hand and both find new investors and further develop their applications on the other.
CV VC has also used the exceptional situation to expand our networks, sharpen our course and secure our expansion plans. The measures are beginning to bear fruit, and we were able to successfully close the financing round in the spring. CV VC’s investment approach with the incubation program, direct investments and our ecosystem have been convincing. In addition, investors can participate in the steadily growing startup portfolio through our fund certificate. In collaboration with Swiss asset management partners, we launched the first “Technology for Tomorrow” venture capital certificate, and now more will follow in the areas of Liquid Crypto and DeFi.
Our strategic approach to connect the most important and innovative blockchain locations worldwide and to be present locally with our own CV Labs was successfully implemented. Together with DMCC, one of the largest and fastest growing free zones in the world, we opened CV Labs Dubai. The potential and interest in blockchain technology is huge in the emirate. So is it on the African continent, where we just opened our Cape Town office. According to the 2020 Global Crypto Adoption Index, South Africa, Kenya and Nigeria have the highest crypto and blockchain adoption rates in the world.
CV VC’s goal in Africa is to work with local stakeholders to invest in 100 startups over the next four years. The focus is on startups that can address the challenges of the African continent. Our efforts since 2018 to gain a foothold on the African continent were successfully concluded with the signing of an agreement with the Swiss State Secretariat for Economic Affairs (SECO). Together, we are committed to fostering the build-out of an independent ecosystem in Africa through the transfer of know-how and experience from Switzerland and the Crypto Valley. The newly opened office in Cape Town with the new Managing Director Gideon Greaves is set to become a blockchain hub that will have an impact throughout Africa and beyond.
I invite you to join me on this exciting part of CV VC’s journey.
Mathias Ruch, CEO & Founder of CV VC
Why strong networks are essential for Crypto Valley and CV VC was originally published in CV VC on Medium, where people are continuing the conversation by highlighting and responding to this story.