Circle Ventures becomes a limited partner
The venture arm of USDC issuer Circle has become a limited partner in the CV VC African Blockchain Fund, a ten‑year vehicle that invests in early‑stage blockchain startups across the continent. The fund aims to deploy US$20 million and typically writes cheques starting at US$100,000 for promising teams. Previous beneficiaries include Nigerian payments firm Ivorypay and Kenyan credit platform Nyayomat, both graduates of CV VC’s nine‑week accelerator.
Why Circle is investing
Brenton Naicker of CV VC said on LinkedIn that Circle Ventures’ backing will “support Web3 innovation across Africa”. Africa’s crypto market has grown rapidly despite a funding downturn; CV VC’s latest report notes that African blockchain firms raised US$122 million across 30 deals last year—just 2.3% of global capital—prompting many startups to rely on grants.
See more related: Sygnia Warns South African Investors Against Full Bitcoin Exposure
Implications for Africa’s Web3 ecosystem
Circle’s investment signals renewed confidence from global stablecoin players in the continent’s crypto potential. By anchoring a specialised fund, Circle may accelerate the development of stablecoin and payments infrastructure, giving startups access to capital, mentorship, and regulatory networks. The move also aligns with growing interest in local‑currency stablecoins and cross‑border payment solutions across Africa.
