Bitcoin in Africa: Development in the region is supported by big names and investments from Recursive Capital
Recursive Capital, a venture capital firm focused on investing in Bitcoin in Africa, recently shared an announcement about the completion of its first round of capital raising (Fund I). Development on the African continent is being backed by big names through Recursive Capital.
As the company highlighted, key supporters of investment in the region include Jack Dorsey, CEO of Block, Peter L. Briger Jr., former partner at Goldman Sachs and chairman of Fortress Investment Group, and Jeff Booth, author of The Price of Tomorrow.
“Recursive Capital, the leading early-stage Bitcoin VC focused on Africa, announced the first close of its Fund I at an undisclosed amount by anchor investors, Block Chairman Jack Dorsey, former Goldman Sachs Partner and Chairman of Fortress Investments Group Pete L. Briger Jr., and Price of Tomorrow author and Ego Death Capital founding partner Jeff Booth.”
Recursive Capital is an early-stage Bitcoin venture capital fund that invests exclusively in Bitcoin companies with a focus on the African continent. The company’s CEO, Abubakar Nur Khalil, highlighted: “Fund I’s focus is to lay the foundation for a thriving Bitcoin ecosystem in Africa that will lead the world in innovation, growth, and impact.”
Company explained that the Fund supports companies covering Bitcoin infrastructure (Bitcoin mining, data/analytics, etc.), commercial use cases (exchanges, custody, etc.), and cutting-edge technologies such as the Lightning Network.
“Fund I provides Bitcoin founders with capital, mentorship, and strategic support for sustained growth and impact. The Fund distributes checks of between $50 and $100 on average to early-stage companies with growth potential and a track record. It also provides smaller check sizes and additional help, mentorship, and guidance to even early-stage companies through its venture production arm, Recursive Labs.”
However, Recursive Capital added that the Fund strictly makes equity investments and does not engage in alternative financing structures, tokens or currencies.
At the time of publication, the price of Bitcoin was quoted at US$95.186,18, down 2% in the last 24 hours.
It is worth remembering that, in a scenario where regulation is seen as a fundamental step towards the maturity of the cryptocurrency market, South Africa has stood out for its pioneering initiatives in the sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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