EMURGO has announced the launch of a new investment vehicle in the Cardano ecosystem to invest in early stage and growth stage startups.
The official business arm of the Cardano blockchain will invest in startups focused on creating social impact solutions powered by Cardano.
As 100% subsidiaries of the parent company EMURGO Ptd. Ltd., this new Cardano investment vehicle will consist of two separate entities, EMURGO Africa and EMURGO Ventures, each with a separate investment thesis.
EMURGO Africa aims to support more than three hundred regional startups through seed funding and incubation, ultimately to get Cardano blockchain adopted as the standard technology platform in Africa for solutions with social impact. EMURGO Ventures will focus on other developed markets to facilitate the creation of solutions and services on Cardano with a fixed capital allocation for seed investments in a variety of startups and middleware solutions companies focused on Cardano, including those that create decentralized financial services (DeFi), non-fungible token (NFT) projects, blockchain developer training tools and other decentralized applications.
The integration of smart contracts into Cardano’s blockchain should now foster broad innovation in decentralized services and EMURGO’s new investment vehicle through these two entities will support this initiative. As subsidiary entities of EMURGO – one of the founding members of Cardano – EMURGO Africa and EMURGO Ventures will leverage EMURGO’s deep experience in the deployment of blockchain solutions and the global network of industrial partners to provide capital to its portfolio companies, thereby helping to strengthen the Cardano ecosystem.
Through its previous partnership with SOSV, EMURGO has made more than ten direct investments in blockchain startups, including API3 – a data service provider for blockchains that has raised major fund investments in the blockchain industry. For its initial launch, EMURGO Africa announced two major partnerships to rapidly expand the Cardano ecosystem by Africa and use the major commercial networks of its partners.
Adanian Labs, an operator of start-up studios in Africa, will partner with EMURGO Africa to support impact-driven startups that are expanding the Cardano ecosystem across the continent. Adaverse, a joint Cardano-focused accelerator program in Africa along with industry-leading blockchain accelerator Everest Ventures, will also partner with EMURGO Africa. For its initial launch, EMURGO Ventures announced its first seed investment in Milkomeda – a dcSpark side chain project connecting Cardano and other Layer 1 blockchain protocols that will use Wrapped ADA (wADA) as an asset.
“We are focusing more than ever on accelerating the development of the Cardano ecosystem with a rich mix of decentralized services aimed at a global community that is increasingly aware of the blockchain. EMURGO is committed to meeting this demand by providing the capital and strategic resources necessary for our portfolio companies to scale rapidly and bring new solutions to Cardano. said Ken Kodama, CEO of EMURGO.
Charles Hoskinson, CEO of IOHK, said: “EMURGO’s investments will help shape the future of the Cardano ecosystem, a maturing network with a creative and diverse community, developing smart contract capabilities and partnerships through the world who provide social and financial services using Cardano’s secure technology. . “
According to the Chainalysis 2021 Global Cryptocurrency Adoption Index, global cryptocurrency adoption has jumped over 880% and is skyrocketing, driven by the use of DeFi platforms in the markets emerging. It is worth noting that residents of these markets have increasingly used DeFi platforms as the primary gateway to access cryptocurrencies due to a lack of access to centralized exchanges and traditional financial services.