Recursive Capital’s Fund I, backed by investors like Jack Dorsey, aims to support African Bitcoin start-up companies, focusing on infrastructure, mining, and cutting-edge technologies. The fund has already invested in several companies and plans to expand Bitcoin innovation across the continent.

Recursive Capital, a venture capital firm focusing on investing in Bitcoin companies across Africa, has successfully closed the first round of its Fund I.

The fund had strong support from major investors, including Jack Dorsey, Chairman of Block; Peter L. Briger Jr., former Goldman Sachs partner and Chairman of Fortress Investment Group; and Jeff Booth, author of The Price of Tomorrow and Founding Partner at Ego Death Capital.

Recursive Capital secures fund I to support African Bitcoin startups

The firm aims to back early-stage startups in Africa, using the continent’s financial needs to fulfill Bitcoin innovations. Recursive Capital believes that Africa, with its strong economy, could guide the world in Bitcoin development.

Abubakar Nur Khalil, the CEO of Recursive Capital and a Nigerian Bitcoin contributor stressed that Fund I’s goal is to build a strong Bitcoin ecosystem in Africa that will set the stage for global innovation and contribute to the growth of the Bitcoin sector.

Nur Khalil also serves as the interim CEO of ₿ Trust, funded by Jay-Z and Jack Dorsey to support African Bitcoin developers.

As Fund I will primarily focus on backing African Bitcoin infrastructure ventures, mining operations, and companies developing commercial products like exchanges and wallets.

Additionally, the fund will also support firms working on cutting-edge technologies such as the Lightning Network and Fedimint protocols that invest equity capital, with average investments ranging between $50,000 and $100,000 per company, to avoid tokenized securities or other alternative funding structures.

Investing in African Bitcoin companies and mining

Since its launch, Recursive Capital has already invested in several African companies, including Bitnob, which offers Bitcoin-based financial services; Fedi, a platform facilitating collaborative Bitcoin custody; and Synota, which streamlines utility payments through the Lightning Network.

Jack Dorsey has supported African Bitcoin adoption and has been actively involved in the African Bitcoin ecosystem. He spoke at the inaugural African Bitcoin Conference in Ghana in 2022 and is scheduled to speak again at the upcoming conference in Kenya.

In the coming year, Recursive Capital plans to launch Recursive Labs, an initiative to mentor and guide portfolio companies with strategic insights.

The firm also plans to expand its investments in Bitcoin mining by considering Africa’s excessive renewable energy. In a long term, Recursive Capital aims to become the leading venture capital firm for African Bitcoin innovation, and as a global leader in Bitcoin development.

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Amid what has been a legendary bull rally for the crypto market, Cardano has broken through the $1.05 mark as trades ponder what could be next for ADA. The token has been one of the greatest beneficiaries of the market’s sentiment, as it has been surging throughout the month of November.

It is certainly not alone, as Ripple (XRP) has reached its highest price of the year, trading at the $1.75 mark. With Bitcoin also on the doorstep of a $100,000 all-time high, there is a growing belief that a host of cryptocurrencies could be quickly behind. Among the most promising tokens entering December is Cardano.

Also Read: Cardano Founder Makes Bold Bitcoin Prediction for 2025…

Cardano Price Prediction: ADA Hits $1 as Market Ponders What Could be Next

The month of November has been one to remember for the cryptocurrency market. With Donald Trump winning the 2024 US presidential election, pro-crypto policies are expected to take hold. Moreover, that has created some immensely positive sentiments regarding top tokens.

Leading the charge, like always, is Bitcoin. The top crypto by market cap reached a $99,000 all-time high last week, while it’s sitting on the doorstep of a six-figure record price. Moreover, XRP has followed suit. The asset has decoupled from BTC while reaching its highest price of the year.

Joining the surging assets is Cardano, with ADA surpassing the $1.05 psychological level. Now the market is anticipating what could be next. However, before theorizing, it is important to break down how the asset reached the vital price point.

Also Read: Cardano to $2? Why Some Think it Could Happen Before 2025

Over the last 30 days, the token is up a remarkable 196%, according to CoinMarketCap. Moreover, those gains extend over the last week, where it has increased more than 8% to reach its current price point. With its trading volume up over 40%, there are high hopes for where the asset could be headed.

The next key landmark price to keep an eye out for is $1.50, which is certainly possible. In order to verify a trip to that price point, ADA would first have to surpass the $1.20 level it has proven unable to break through. However, the next several months could be huge for the long-term success of Cardano.

By 2025’s arrival, there are expectations that it could offer a 50% return and set the stage for big things over the next 12 months. Specifically, many predict that the token could challenge its all-time high above the $3 mark. Set in 2021, the record would mean huge things for ADA and the greater crypto market.