The Africa-focused venture capital (VC) firm, Echovc, has launched a fund that seeks to support blockchain startups on the continent. While global blockchain funding has been on a decline over the past year, Echovc founder Eghosa Omoigui claimed that investing now enables the VC to get in “at lower entry valuations on average than in…
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Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank to limit the fallout of the bank’s collapse and the subsequent impact on tech companies. As the 40-year-old banking institution, Silicon Valley Bank (SVB), winds down operations, numerous venture capitalists (VCs) and investors joined hands and decided to cushion the impact in case…
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Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others…
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On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution “will be well positioned”…
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Kresus’ SuperApp aims to bridge more everyday consumers to digital goods, NFTs and other Web3 products and services. Web3 app developer Kresus has closed a $25 million funding round to support the development of its so-called SuperApp, potentially opening the door to broader consumer adoption of digital assets. The Series A funding round was led…
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The fundraising round included Polygon, Ripple, Octava, NEO Global Capital, Appworks, Sebastien Borget of The Sandbox, GSR, LD Capital, Metavest Capital and others. Blockchain Founders Fund, a venture capital fund supporting the adoption of Web3 and blockchain technology, has announced the close of a $75 million fundraising round from companies such as Polygon, Ripple, Octava,…
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2022 saw an overall decline in the amount of venture capital funding going into the blockchain and cryptocurrency space. 2022 will go down as a tough year for the cryptocurrency space and bleak market conditions were mirrored by a downtrend of venture capital funding flowing into blockchain and crypto activities. A report from Blockdata highlights…
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On Feb. 17, 2023, Tokyo-based Sony Network Communications announced that it is co-hosting a Web3 incubation program with the multichain smart contract platform Astar Network. The program has started accepting applications, and Sony and Astar will jointly mentor Web3 projects “focused on the utility” of non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs). Sony and…
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On Wednesday, Napster, the music streaming service originally launched in 1999, announced that the company has finalized a deal to acquire the Web3 music startup Mint Songs. Napster’s CEO, Jon Vlassopulos, insists that “we are in an unprecedented era of innovation in the digital music space,” and he believes Web3 innovations can help musicians find…
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Angel investors are seed-stage financiers who offer mentorship to nascent businesses for equity, while venture capitalists inject substantial capital into later-stage firms. Angel investors and venture capitalists are two types of private investors who provide funding for early-stage and growth-stage companies. However, there are some key differences between them that we will cover in this…
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