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The investor, also known as CV VC, revealed Monday at the Blockchain Hub adjacent to the World Economic Forum in Davos, Switzerland, that it is opening an Africa-focused fund to help blockchain entrepreneurs on the continent.

CV VC said in a news release that the fund will invest in 100 African startups over the next four years. CV VC has invested in 12 firms, according to the release, where "blockchain use cases go far beyond cryptocurrencies to propel Africa's future to date." The fund's goal is to raise between $10 and $50 million, according to the investor.

Leading House Africa, a Nigerian firm that will allow land registration on the blockchain, and Mazzuma, a Ghanaian mobile payments network, are two of the 12 startups CV VC has previously invested in. Most businesses are expected to come from South Africa, Nigeria, Kenya, Ghana, and Egypt, according to Olaf Hannemann, co-founder and CIO of CV VC, although it is open to sponsoring ideas from all throughout Africa.

"All we want are the best ideas from all over," Hannemann explained.

CV VC released the African Blockchain Report on Monday, highlighting the sector's rapid expansion across Africa. According to the research, financing for African blockchain businesses has grown 11 times faster than overall African venture capital funding.

According to the survey, Africa is a fast-growing crypto industry that is attracting big investments from the crypto sector. Coinbase Ventures and Alameda Research led a $23 million round for Pan-African centralized crypto exchange Mara earlier this month. Bitcoin has now become legal tender in the Central African Republic.

CV VC, based in Switzerland, has formed a public-private collaboration with the Swiss State Secretariat for Economic Affairs (SECO), the country's labor market regulator.

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