Home News Africa-Focused Venture Capital Firm Echovc Launches Blockchain Fund

Africa-Focused Venture Capital Firm Echovc Launches Blockchain Fund


The Africa-focused venture capital (VC) firm, Echovc, has launched a fund that seeks to support blockchain startups on the continent. While global blockchain funding has been on a decline over the past year, Echovc founder Eghosa Omoigui claimed that investing now enables the VC to get in “at lower entry valuations on average than in prior years.”

Startups Offering Blockchain-Based Solutions Qualify for Funding

The pan-African venture capital firm, Echovc, recently said it had launched an $8 million fund which is dedicated to Africa’s blockchain startups. According to the company’s blog post, the fund known as the Echovc Chain will be accessible to startups that are attempting to solve the continent’s challenges using the blockchain.

As noted in a report by Techcabal, Echovc’s new fund has been launched at a time when global funding for crypto and blockchain startups has been declining. The drop in funding has already forced some entrepreneurs to sell their startups.

Echovc Targets Underserved African Countries

Yet, despite this plunge in funding, Eghosa Omoigui, the founder and general managing partner at Echovc, is quoted in the report suggesting that now is the ideal time to fund startups because doing so allows the…

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