TO BOLSTER DEFI ADOPTION, CARDANO WILL RECEIVE A $100 MILLION INVESTMENT FROM EMURGO.
EMURGO, the official commercial arm of the Cardano blockchain, announced today the creation of a new Cardano ecosystem investment vehicle to assist early-stage and growth-stage entrepreneurs focused on building socially meaningful solutions utilising Cardano.
This new Cardano investment vehicle will be comprised of two separate entities: EMURGO Africa and EMURGO Ventures, each with its own investment thesis and will be wholly-owned subsidiaries of parent company EMURGO Ptd. Ltd.
EMURGO Africa seeks to provide seed finance and incubation to over 300 regional entrepreneurs in order to have Cardano’s blockchain established as the technological platform standard in Africa for socially impactful solutions.
With a set capital allocation for seed investments into a variety of Cardano-focused startups and middleware solutions companies, including those building decentralised financial services (DeFi), non-fungible token (NFT) projects, blockchain developer education tools, and other decentralised services, EMURGO Ventures will focus on other developed markets to facilitate the building of solutions and services on Cardano.
Official twitter handle of cardano also re-tweeted the EMURGO tweet of investing $100M
As subsidiary entities of EMURGO – one of the founding members of Cardano – EMURGO Africa and EMURGO Ventures will leverage EMURGO’s deep experience in blockchain solutions deployment and global network of industry partners to provide strategic capital to its portfolio companies, helping to bolster the Cardano ecosystem.
Through its previous partnership with SOSV, EMURGO has made more than ten direct investments into blockchain startups, including API3 – a data service provider for blockchains that has garnered investment from major funds in the blockchain industry.
For its initial launch, EMURGO Africa has announced two major partnerships to rapidly expand the Cardano ecosystem in Africa and utilize the large business networks of its partners.
Global cryptocurrency adoption has surged over 880 percent and is soaring, according to the 2021 Chainalysis Global Crypto Adoption Index, boosted by use of DeFi platforms in emerging regions.
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