Cardano Accelerator Adaverse Encourages Patience as it Nears Goal of 300 Startups
Adaverse, a funding accelerator, has been making moves in Africa’s Web3 startup ecosystem. With a goal to invest in 300 blockchain startups across the continent in 3 years, Adaverse has already invested in approximately 40 African Web3 startups.
Vincent Li, a founding partner at Adaverse, emphasized the impact of the macro-economic environment on startup ecosystems in Africa. He noted the need for patience in waiting for market growth and founder development. Despite falling short of their 2022 target, Adaverse remains committed to Africa beyond the initial three-year timeline.
Notably, Adaverse recently invested $500,000 in UmrahCash, a fintech startup based in Nigeria. Looking ahead to 2025, Li predicts significant developments in regulatory frameworks in Nigeria. He anticipates growth in decentralized finance (DeFi), GameFi, and stablecoins to address financial inclusion and payment challenges on the continent.
Adaverse’s fund is open to all projects, regardless of whether they are built on Cardano or not, with a focus on supporting startups’ autonomy in choosing technology solutions that best serve their business needs. The accelerator has already invested in several startups, including BoundlessPay, BitMama, Canza Finance, and more.
As the blockchain landscape evolves in Africa, Adaverse is at the forefront of driving innovation and disruption in key sectors. With a focus on transparency, trust, and inclusivity, the accelerator is poised to play a pivotal role in shaping the future of blockchain in the region.
