StarkWare Launches $4 Million Venture Fund to Drive Blockchain Innovation in Africa

StarkWare, a leading player in the blockchain space, has unveiled a $4 million venture fund dedicated to nurturing blockchain startups across Africa. The fund underscores StarkWare’s confidence in Africa’s potential to become a major hub for global crypto adoption, empowering a continent often underserved by traditional financial systems.

This new initiative aims to catalyze the growth of early-stage blockchain projects that leverage Starknet, StarkWare’s zero-knowledge (ZK) rollup technology designed to scale Ethereum efficiently. The fund offers a unique blend of capital, mentorship, and technical support to accelerate innovation in the African Web3 space.

Spearheaded by an Experienced African Leader

The Africa-focused venture fund is being led by Kheireddine Kamal, a seasoned African entrepreneur and investor with deep roots in the continent’s tech ecosystem. Kamal brings years of experience in blockchain, business development, and seed investing. Having worked with several African startups, Kamal understands the challenges faced by resourceful yet often underserved entrepreneurs.

His vision for the fund is to focus on early-stage teams—especially at the pre-seed and seed stages—that are developing solutions on Starknet.

“For much of the blockchain industry, talk of financial inclusion for the unbanked and benefits for Africa has never gone beyond virtue signaling. It’s time for the next phase. We’re putting our money where our mouths are,” said Kamal.

Supporting Africa’s Brightest Blockchain Innovators

Startups that participate in the program can receive grants of up to $150,000 for early-stage development. More advanced teams can secure investments of up to $500,000. StarkWare is particularly interested in startups that combine technical expertise with solid business models and have a clear plan to deploy their solutions on Starknet.

In addition to financial support, the venture fund will offer founders access to technical mentorship and networking opportunities to help scale their projects across Africa and beyond.

Why Africa? A Region Poised for Blockchain Adoption

Africa’s demographics and economic trajectory make it a fertile ground for blockchain adoption:

• A Youthful Population: By 2025, a third of the world’s youth will reside in Africa.
• Growing Economic Potential: The region is projected to reach $6.7 trillion in consumer and business spending by 2030.
• Surging Crypto Adoption: Crypto adoption across Africa has surged by 2,500% since 2021.

Kamal and his team will target regions with a high appetite for blockchain innovation, including West Africa, East Africa, and South Africa. These regions have shown remarkable resilience despite facing structural barriers such as high transaction fees, broken financial systems, and limited access to global markets.

The venture fund aims to break these barriers by providing the tools and resources African entrepreneurs need to thrive in the global digital economy.

Starknet as a Catalyst for Africa’s Digital Economy

At the heart of this initiative is Starknet, a Layer 2 scaling solution for Ethereum that offers fast (2-second transaction confirmation) and cost-effective (sub-cent fees) transactions. This scalability is essential for building solutions that can meet the demands of Africa’s rapidly expanding digital economy.

“Blockchain presents a unique opportunity for many parts of Africa to leapfrog outdated infrastructures and democratize access to financial tools with decentralization and transparency,” said Eli Ben-Sasson, CEO and co-founder of StarkWare. “Africa is an exciting mass market that will drive innovation and showcase what can be achieved with scale.”

Building Africa’s Blockchain Future

StarkWare’s new $4 million venture fund represents a significant step toward unlocking Africa’s blockchain potential. By combining funding, mentorship, and technical expertise, the initiative will empower local innovators to build blockchain solutions that address real-world problems, ultimately contributing to Africa’s economic transformation.

If you are an African founder interested in applying for grants or learning more about this initiative, reach out to Kheireddine Kamal via email or on X (formerly Twitter).