Venture Capital Is Noticing African CeFi
Key Takeaways
- The biggest news in venture capital this week was the $1 billion private token sale with Terra, which we wrote about in more detail in our Crypto Weekly report. Other than the Terra private sale, Centralized Finance projects took home the bacon, raising $475 million across just three projects. Infrastructure investments raised $103 million mostly in early-stage, low price tag funding rounds. Three gaming / NFT projects received $13 million. Something we are noticing is an emerging trend of venture capital investments into African-based projects, accounting for 3 of this week’s rounds.
- Active investors this week include Tiger Global, Coinbase Ventures, and Three Arrows Capital.
- Deal of the Week: Amber Group raised $200 million in a Series B that tripled its valuation to $3 billion as it targets two specific verticals for growth: retail investors and institutional asset management.
Venture Capital Deals
Flutterwave is a Nigerian fintech startup specializing in remittance payments into and out of Africa. The company raised $250 million in a Series D round that valued Flutterwave at $3 billion. The funding round was led by B Capital Group with participation from Glynn Capital, Alta Park Capital, Whale Rock Capital, and Lux Capital. The capital is m...Unlock this article by joining our Community!
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