Highlights from CV VC’s portfolio of blockchain startups (H2/2022)
2022 has been an active and exciting year for CV VC. The investment team conducted 18 investments in the first half of 2022 alone. Working through a strong investment pipeline, the team has narrowed down opportunities and plans to conduct new direct investments before the end of the year. Applications are rolling in for Acceleration Batch 05. The following CV Labs Accelerator is set to kick off in March 2023.
Within CV VC’s portfolio, six companies are actively raising capital, and another 14 companies are preparing to fundraise in 2023. To highlight a few companies in our portfolio:
- Utopia Music (SUI) - "Fair pay for every play." Utopia leverages big data to enhance the global music industry through increased revenues, reduced costs, accelerated payment cycles, and improved insights. As highlighted in the last post, Utopia continued its hyper-growth closing 15 acquisitions since 2021. The company will close their Pre-Series C at the end of the year. Utopia is preparing to raise Series C in 2023.
- Cybera (USA / SUI) - Cybera closes the gaps that allow cyber criminals to thrive by sharing actionable information in real time with financial institutions, fintech, and crypto exchanges and coordinating a global legal response to support victims of financial cybercrime. Cybera is a new addition to the portfolio in Q3 2022 after successfully closing their Seed round led by Converge VC.
- DoxyChain (POL) – DoxyChain build a blockchain infrastructure for document management executed by smart contracts, with APIs for major enterprise applications and other blockchains. DoxyChain is a natural bridge between legacy Web 2.0 and Web 3.0. DoxyChain is a new addition to the portfolio in Q3 2022 after successfully closing their Seed round led by Level2 Ventures.
- Sprinter (USA) - Sprinter provides businesses instant access to the talent and tools required to build, grow, and scale their operations. They combine powerful software and a global partner network to give companies confidence, transparency, and control over their budget. An alumnus from the CV Labs 2019 Acceleration program, CV VC conducted a follow-on investment in 2022. Sprinter is preparing for a larger fundraiser in 2023.
- Tracifier (GER) - Tracifier is a supply chain management system based on blockchain technology. Its mission is to reduce yearly USD 50 billion food fraud in markets and develop sustainability practices in agribusiness worldwide by a blockchain-enabled system for provenance, traceability, and efficiency. Tracifier completed the CV Labs Accelerator in June 2022 and is renowned as one of the top tech companies to watch in Hamburg. Tracifier is preparing to raise a Seed round in 2023.
Current fund & Product Roadmap
CV VC will close its first VC fund “Technology for Tomorrow” or “T4T” to new investors at the end of the year.
The T4T portfolio, consisting of 23 investments, plans to add 2-3 new investments in early 2023. Beyond that, the investment team will continue to support the growth of its portfolio companies through follow-on investments. The venture capital industry is sitting on a record amount of dry powder, which will have to be deployed in the coming 12-24 months. CV VC will assist its portfolio companies in capitalizing on this expected flow of capital, furthering their growth at higher valuations.
In 2023, CV VC will be rolling out new funds in parallel to CV VC’s global expansion and the further adoption of blockchain:
- The AFRICA FUND will be dedicated to blockchain & WEB3 projects from the continent. The CV VC team in Africa is accepting letters of intent from investors and plans to launch the fund in Q1, 2023.
CV VC continues to manage its Digital Asset Hedge Fund of Funds, offering investors both exposure to digital assets through active management and liquidity:
- DIGITAL ASSET HEDGE FUND OF FUNDS CV VC currently maintains two digital asset hedge fund of funds: Digital Asset & Digital Alpha. Digital Asset utilizes hedge fund strategies with a long-biased approach to provide strong participation in positive markets while limiting exposure to volatility during market downturns. Digital Alpha uses market-neutral strategies, taking a risk-off approach to the overall portfolio. Utilizing such strategies, the Digital Alpha portfolio gives investors exposure to digital assets without bearing full exposure to volatility.