Adaverse

Adaverse is a Cardano-focused venture capital fund and accelerator established in September 2021 as a joint venture between EMURGO Africa, the Africa and Middle East-focused investment arm of EMURGO (the official commercial entity of the Cardano blockchain), and Everest Ventures Group, a blockchain and digital asset venture studio. The fund operates as part of EMURGO's broader $100 million Cardano ecosystem investment vehicle and focuses on identifying and scaling promising Web3 projects in Africa, Asia, and the Middle East. Adaverse combines pre-seed capital, with check sizes of up to $200,000, with a structured three-month accelerator programme providing 24 hours of one-to-one mentorship, technical support for building on the Cardano blockchain, and access to EMURGO's global ecosystem and commercial network. The fund's thesis is grounded in the potential for Cardano's proof-of-stake blockchain infrastructure to serve as the foundational technology layer for Africa's rapidly growing digital economy, targeting the continent's projected blockchain market. Since its launch, Adaverse has backed more than 40 startups across Africa, Asia, and the Middle East in sectors spanning decentralized finance, NFTs, gaming, proptech, fintech, and market research. The founding partner team is led by Vincent Li. Beyond its original investments in companies building on the Cardano ecosystem, the firm's portfolio includes HouseAfrica, Nestcoin, Diagon Studios, Afropolitan, Kotani Pay, Versus Africa, and Fig Finance.