Circle Ventures, the investment arm of Circle, has invested in CV VC’s $20 million African Blockchain Fund, a vehicle dedicated to supporting blockchain startups across Africa. The development was confirmed by Brenton Naicker, CV VC’s head of growth in Africa, who announced the partnership in a LinkedIn post.
The African Blockchain Fund was launched in 2022 to provide capital and accelerator support for early-stage ventures. Structured to run over an 8–10 year cycle, the fund targets founders building solutions that address practical challenges in payments, trade, identity verification, and financial access. Circle’s entry as an investor strengthens the fund’s capacity at a time when blockchain innovation on the continent is accelerating.
CV VC has already invested in startups such as Ivorypay, a Nigerian platform facilitating cross-border stablecoin payments, and Nyayomat, a Kenyan company using blockchain to extend credit to informal retailers. These investments showcase the type of ventures the fund aims to scale: startups tackling systemic financial barriers with blockchain technology.
For Circle, the partnership aligns with its broader mission to promote the adoption of USD Coin (USDC) as a trusted digital currency for global payments. Stablecoins like USDC are increasingly embedded in Africa’s financial flows, where they help protect savings against inflation and enable cross-border trade in markets with volatile currencies. By investing in the fund, Circle not only injects capital but also brings global recognition to Africa’s emerging Web3 ecosystem.
Naicker highlighted that Circle’s involvement will give African founders greater access to resources, mentorship, and international networks, ensuring startups can scale beyond local markets.
With remittance inflows to sub-Saharan Africa projected to reach $60 billion in 2025, according to the World Bank, the demand for reliable digital financial tools is growing. Circle’s investment underscores a broader trend of global players taking direct stakes in Africa’s blockchain future, signaling that the continent is becoming an important hub for Web3 innovation.
Read also: Tether CEO says Africa can lead in building Web3 systems.
