FUNDING | Over Half of African Deals by DCG, American Web3 VC Giant, Were Made in 2024 Alone

The Digital Currency Group (DCG), a powerhouse in the crypto and blockchain investment space, has significantly ramped up its activity in Africa. In 2024 alone, the US-based firm closed 12 new deals, reinforcing its commitment to the continent’s rapidly evolving fintech, AI, and blockchain ecosystem.

Founded in 2015 by Barry Silbert, DCG is a global investment giant specializing in digital assets, blockchain startups, and Web3 technologies.

Headquartered in Stamford, Connecticut, the firm operates as a venture capital company, incubator, and holding company for some of the most influential brands in the crypto space.

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DCG’s Key Areas of Influence:

• Investments – Backing over 200+ blockchain and fintech startups worldwide
• Subsidiaries – Includes well-known companies like:
  • Grayscale Investments – The world’s largest digital asset manager, with over $30B+ in crypto assets under management
  • Genesis – A leading crypto trading and lending platform
  • Foundry – A mining and staking infrastructure provider supporting Bitcoin and other PoW networks
  • Luno – A global crypto exchange with a strong presence in emerging markets
  • TradeBlock – Institutional-grade crypto analytics platform
• Formerly Owned – CoinDesk, a leading blockchain media company, which it sold in 2023

With its expansive portfolio and deep industry expertise, DCG plays a pivotal role in shaping the future of blockchain and crypto adoption globally.

DCG’s Growing Presence in Africa

Since entering the African market in 2021, DCG has steadily increased its investments, supporting 23 startups across:

• Ivory Coast
• Egypt
• Kenya
• Nigeria
• South Africa
• Tanzania

With over $4 million deployed in the region, DCG is strategically betting on Africa’s high-growth fintech, crypto, and AI sectors.

Key Portfolio Companies in Africa

DCG’s African investments include some of the most promising fintech and blockchain-driven startups:

• Kashier (Egypt) – Digital payments platform
• TurnStay – Hospitality-focused fintech
• Zone – Blockchain-based payment network
• Tappi – SME financial solutions
• Busha (Nigeria) – Crypto exchange
• Djamo (Ivory Coast) – Financial super app
• Stitch (South Africa) – Open banking API provider
• NALA (Tanzania) – A leading cross-border payments app that secured $2 million in 2022, DCG’s largest individual investment in Africa to date

The 2024 Investment Boom

More than half of DCG’s African deals—12 out of 23—were made in 2024 alone, covering:

• Nine fintech companies focused on digital payments, financial inclusion, and neobanking solutions
• One AI startup using Web2 technologies for automation and enhanced productivity
• Two data infrastructure firms developing scalable cloud-based solutions for emerging markets

DCG’s Vision for Africa

As Africa emerges as a global tech hub, DCG sees fintech, AI, and blockchain as key drivers of economic transformation on the continent.

A company spokesperson emphasized their strategic focus:

“Africa is a hotbed for innovation – its startup ecosystem is driving the next generation of global players in fintech, AI, and blockchain. At DCG, we see this as a once-in-a-generation opportunity to support bold entrepreneurs building transformative technologies. With 12 investments this year, we’re doubling down on our commitment to the region’s potential.”

Why This Matters

• Growing VC Interest in Africa – More global investors recognize the continent’s untapped potential
• Crypto and Blockchain Adoption – Increasing DeFi solutions, crypto remittances, and Web3 applications
• Fintech Expansion – Startups are accelerating financial inclusion for the unbanked and underbanked

As DCG scales its African operations, its investments could reshape the region’s financial landscape, bringing greater innovation, digital inclusion, and blockchain adoption to millions.

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