Cardano Blockchain has announced through its trading arm, EMURGO, the launch of a new venture capital (VC) ecosystem. The new venture capital portion of Cardano Blockchain will help support startup startups working in technology.
EMURGO Ventures and EMURGO Africa
The blockchain company has divided its venture capital investment branches into two separate entities: EMURGO Africa and EMURGO Ventures. EMURGO Africa will exclusively focus on African fintech startups that have built a strong financial infrastructure around their product but lack the funds to advance business development.
The venture capital company will invest in these startups to help drive financial progress within the region and help integrate Cardano’s blockchain technology into new systems. EMURGO Africa will see most of its support coming from business acceleration programs and through direct funding for start-ups. The company will also seek start-up ideas that will create a positive social impact in Africa.
EMURGO Ventures will become much broader in the region, but a little more specific in its business scope. The venture capital company will look globally to find start-ups that want to create decentralized applications (dApps) using Cardano’s blockchain technology. Blockchain technology could be used for decentralized financial solutions, non-fungible token exchanges, or a set of tools for other blockchain developers. EMURGO Ventures plans to provide funding for start-ups in the early and middle stages of development that intend to build businesses directly through Cardano, or that will transition from current software to Cardano’s blockchain technology.
Both launches are part of a broader goal for EMURGO and Cardano to see a significant increase in the adoption of blockchain technology and the integration of Cardano’s software.
First investments and trade associations
Along with the immediate launches of EMURGO Ventures and EMURGO Africa, the venture capital company has announced a series of business partnerships and initial investments.
For EMURGO Africa, the venture capital company has partnered with Adanian Labs and Adaverse. Adanian Labs is an African business building study that will work directly with EMURGO Africa to identify and support impact-driven startups. Adaverse is a business acceleration program that will focus on the growth and improvement of the blockchain industry in Africa.
EMURGO Ventures recently announced its first investment; seed funding for a blockchain startup that will unite sidechain technologies through Cardano called Milkomeda.
Cardano has previously invested in 10 different start-ups through EMURGO prior to the creation of EMURGO Ventures and EMURGO Africa. The startups focused exclusively on blockchain technology and saw moderate success. API3 was the most notable startup he invested in, and the business saw more funds from multiple major hedge funds focused on blockchain.
Commenting on the launch of the two new business ventures and the future of blockchain technologies, EMURGO CEO Ken Kodama said: “We are more focused than ever on accelerating the development of the Cardano ecosystem with a rich mix of decentralized services. serving a global community that is increasing in general blockchain awareness. EMURGO is dedicated to meeting this demand by providing the capital and strategic resources necessary for the companies in our portfolio to rapidly poach and bring new solutions to Cardano. “