A New $113M Meta Change Capital Fund Launched For African Blockchain Startups
African blockchain startups may soon be able to access a new fund set up specifically to invest in them. Known as Meta Change Capital and established by Nikola Stojanow, co-founder of æternity blockchain and the creator of AE Ventures investment firm, the new venture capital fund aims to raise €100 million ($113 million) to invest in blockchain startups in emerging markets.
Here Is What You Need To Know
- Domiciled in the Cayman Islands, the fund is regulated by the Financial Conduct Authority in the U.K. Meta Change Capital is intensely searching for investors for the fund with the fund’s first round expected to close by the fourth quarter of 2020.
- Meta Change Capital will not focus on æternity, Nikola Stojanow’s blockchain startup, but will invest all categories of blockchains. The fund will alongside support, participate mostly in blockchain startups’ Series A funding rounds and beyond, the firm said.
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- The fund’s focus includes emerging talent from underserved areas and investing in people trying to innovate, solve problems and make money from their ideas.
- Joining Stojanow at MCC is Luka Sucic, former head of investments and Acceleration at AE Ventures. Sucic ran AE Venture’s Starfleet accelerator program, an accelerator for startups using the æternity blockchain in developing markets. Both Stojanow and Sucic have solid backgrounds in the blockchain business. Although æternity got off to a shaky start, having an Ethereum wallet linked to its initial coin offering hacked in 2017, it has been a solid performer since. Through AE Ventures, æternity has worked with the Microsoft Innovation Center to promote the growth of blockchain technology in the past.
What Will Intending African Blockchain Startups Do To Access The Fund Once It Is Closed?
Get ready with their pitch decks would probably be the best response to the question. It should be noted that the founders of the fund are blockchain experts and startups pitching to the fund must be expected to prove their mettle and their solutions should be innovative enough to win the trust of the investor.
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