A conversation with EchoVC on its $8 million blockchain fund and the firm’s crypto thesis
Having recently launched its $8 million pilot blockchain seed fund, EchoVC says it is interested in funding companies that train and foster blockchain talent in Africa.
The blockchain market in Africa is still in its early stages, which makes it attractive to potential entrepreneurs and investors. However, there are some setbacks the market faces, one of which is the shortage of talent to build and drive the ecosystem. Many young African talents are not knowledgeable about blockchain or lack confidence in the industry’s sustainability.
Tsendai Chagwedera, principal at EchoVC Partners, an early-stage venture capital firm that recently launched an $8 million pilot blockchain seed fund, sat with our lead editor Oluwaseun Adeyanju to discuss the firm’s investment thesis and the need to solve the blockchain talent shortage.
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According to Chagwedera, Africa’s large youth population represents untapped potential for the blockchain industry, as a lot of infrastructure is yet to be built due to the lack of technical talent. He believes that blockchain innovation will follow suit as talents develop and foundational infrastructure is built.
“So, it’s going to take some time. We’re still in the very early stages, but I think we’ll get there. I think as the use cases and successes become apparent and materialize, the more young people that are into coding will see this as a viable avenue,” he said.
