| Date | Sunday, April 5, 2026 | 8:00 PM UTC |
| Format | Weekly Web3 Fundraising Roundtable |
| Duration | Approximately 85 minutes |
| Participants | Seth Duodu (CEO, Hopeum), Obinna Iwuno (CEO, CBC Blockchain Services), Paul Joe (Co-founder, Daya), Damilare Aregbesola (West Africa Lead, Base), Chukwuemeka Ezike (BD Director, Rootz Labs), Aquario, Black Man, Entamoty (@Amoaning_Samuel) – Meeting Host + community members |
1. MARKET TRENDS & MACRO ENVIRONMENT
The crypto market is currently in a consolidation phase marked by thin liquidity and geopolitical uncertainty, affecting short-term price movements and trader behaviour.
Consolidation and Thin Liquidity Dynamics [10:33]
- The market is neither strongly bullish nor bearish, with liquidity particularly scarce — leading to potential price fake-outs and sweeps.
- Traders in futures and leverage markets face high volatility due to low liquidity depth.
- Thin liquidity increases risk of sudden market cascades if large holders or market makers sell off.
- Political and geopolitical tensions contribute to market uncertainty, influencing investor sentiment.
Minimal Market Reaction to Political Rhetoric [15:56]
- Despite provocative posts from President Trump, Bitcoin prices remain stable around $65,000–$67,000, showing diminished market sensitivity to political events (noted by Aquario).
- The market’s relative indifference suggests sustained moderate-to-high risk appetite among investors.
- Significant geopolitical events such as U.S.–Iran tensions have yet to materially impact crypto valuations.
Potential Market Impact of Global Currency Shifts [17:40]
- Iran’s efforts to bypass the U.S. dollar using Bitcoin and Euro alternatives could shift global payment dynamics.
- Iran’s openness to Bitcoin amid currency crises may increase mining and usage locally.
- If these shifts succeed, the impact may be more pronounced on traditional markets than crypto markets.
Nigeria’s Leading Stablecoin Adoption [20:29]
- 59% of Nigerian crypto users hold USDT and 48% hold USDC — positioning Nigeria ahead of larger markets like the U.S. and India.
- This reflects Nigeria’s youthful, innovative population driving crypto adoption despite government restrictions.
- Lack of strict regulatory enforcement in Nigeria contributes to broader stablecoin circulation.
- Some participants caution that data may be incomplete due to informal channels and lack of robust tracking (25:31).
2. FUNDRAISING CHALLENGES & STRATEGIES IN AFRICAN WEB3
Raising capital for African Web3 projects remains extremely difficult, heavily dependent on networks, proof of traction, and market education for investors.
Fundraising Near Impossible Without Strong Networks [34:49]
- Seth of Hoeium: success heavily depends on building trusted connections due to investor bias and exclusivity.
- African projects often have strong utility addressing real problems, but lack of investor familiarity stalls funding.
- Trust and relationships override pure product quality in early funding stages.
Proof of Work and Traction Required Before VC Engagement [46:09]
- Obinna, CBC Blockchain Services: VCs now expect founders to self-fund the initial development to de-risk their investment.
- Investors demand evidence of market understanding, product progress, and traction before committing funds.
- Multiple founder exits or prior successes strongly enhance fundraising prospects.
- Milestone-based funding is preferred, reflecting lessons from past misuse of free capital.
Pedigree and Market Education Critical for Raising Funds [50:00]
- Paul from Daya: founders with proven track records or deep market experience found it easier to raise pre-seed rounds.
- Physical meetings and personal relationships with investors are pivotal.
- Many global VCs require extensive market education on Africa’s unique opportunity and challenges.
- Founders lacking pedigree must invest significantly more time in relationship-building and education.
Common Mistakes by African Builders [55:28]
- Damilare from Base: Building only for local markets without a global scaling vision limits VC interest.
- Builders must articulate a broader market target and future expansion plans in pitches.
- Global investors often do not deeply understand African markets — founders must act as educators.
- A lack of notable exits in African Web3 slows investor confidence and interest.
3. PRODUCT AND MARKET FIT FOR WEB3 STARTUPS
Successful fundraising hinges on building real solutions with clear market demand — not just focusing on blockchain technology or hype.
Focus on Solving Real Problems Using Web3 as Infrastructure
- Obinna, CBC Blockchain Services: products must address user needs efficiently, rather than just being ‘Web3 projects’.
- Investors back scalable solutions with demonstrated user adoption, not the underlying technology itself.
- Awareness of market trends is vital — crypto exchanges are no longer hot investment targets.
Building Community is Key to Validating Market Demand [14:50]
- Seth of Hoeium: While founders focus on product, VCs prioritize the community engagement around the product.
- Community size and engagement serve as proof of an addressable market and user belief in the product.
- Tailoring pitches to different investor types (product vs. community-orientated) improves fundraising chances.
Grant Programs as Early Validation Steps
- Obina recommends grants from Base, Solana, Arbitrum, and Lisk as alternatives to early VC funding.
- Grants offer proof of experience and initial traction that can attract later-stage investors.
- Early revenue, user base, and market intelligence are critical data points for Series A investors.
Addressing Dollarization and Stablecoin Dominance Challenges
- While stablecoins like USDT dominate African crypto due to dollarization, this is not a sustainable ‘win’ for local economies.
- Local stablecoins need development to export local currency rather than importing dollar-based assets.
- Overreliance on centralized stablecoins controlled by U.S. entities poses long-term economic risks.
4. INVESTOR RELATIONS & FUNDRAISING PROCESS
Building relationships and understanding investor expectations are fundamental to securing funding in the African Web3 space.
Relationship Building is Essential and Time-Consuming [47:43]
- Multiple speakers: successful fundraising often comes from months of networking and personal meetings.
- Founders should attend events, hackathons, and seminars to build visibility and trust.
- Early-stage investments frequently come from community members or angel investors before VCs enter.
Founders Must Manage Expectations and Avoid Entitlement [01:03:43]
- Chukwuemeka, Rootz Labs: founders should drop feelings of entitlement toward funding and focus on proving value.
- Investors prioritize impact and market potential over nationality or identity politics.
- Founders should start with communities like Base, Solana, and Ethereum to gain visibility and referrals.
Pitching to the Right Investors Requires Market Understanding [58:22]
- Damilare from Base: many global VCs lack deep knowledge of Africa’s markets and need education to see opportunities.
- VC interest increases with notable exits and proven market success stories.
- Founders must tailor pitches to global investors by showing scalable markets and clear exit strategies.
Data Room and Financial Preparedness Highlighted [01:18:19]
- Black Man and others: beyond storytelling, founders need detailed data rooms, cap tables, financials, and market metrics.
- Comprehensive investor materials signal seriousness and readiness for institutional capital.
5. AFRICAN MARKET: UNIQUE ATTRIBUTES & COMPETITIVE POSITIONING
Africa’s youthful population and innovative energy are major assets but require strategic narrative framing for investor appeal.
Youthful, Tech-Savvy Population Drives Adoption [22:19]
- Nigeria exemplifies a highly active and innovative user base driving organic crypto adoption.
- This energy leads to grassroots crypto adoption even without government support or enforcement.
- The youthful demographic fuels stablecoin use and broader crypto experimentation.
Market Accessibility Issues Highlighted by Cross-Border Use Cases [41:03]
- Inability to use Nigerian bank cards in Ghana positions crypto as a cross-border payment solution.
- This underscores the real utility of crypto in solving intra-African trade and payment friction.
- Founders are encouraged to quantify market size and intra-regional trade to attract investor interest.
Global Investor Perception Still Evolving [59:41]
- African markets are not yet fully understood or prioritized by leading VCs.
- The ecosystem awaits landmark exits akin to Stripe’s acquisition of Paystack to boost confidence.
- Until such moments occur, founders must demonstrate clear paths to scalability and liquidity events.
Download Full Recording: Fundraising PlayBook: Attracting Investors in Web3
| ACTION ITEMS |
OWNER ACTION TIMESTAMP
| Chukwuemeka Ezike BD Dirrector o Rootz Labs | Founders to actively build visibility and relationships within Web3 communities such as Base, Solana, and Ethereum to increase chances of referrals and seed investments. | 01:02:35 |
| Mr. Obinna Iwuno CEO, CBC Blockchain Services | Founders to leverage available grants from Base, Solana, Arbitrum, and Lisk to build early-stage traction and credibility before approaching VCs. | 01:09:39 |
| Black Man | Founders to prepare comprehensive investor materials including data rooms, cap tables, financial metrics, and clearly defined market size and addressable markets. | 01:17:45 |
| Damilare Aregbesola West-Africa Lead, Base | VCs and ecosystem leaders to continue educational efforts (such as Base’s founders fellowship) to bridge the gap between African founders and global investors. | 57:03 |
| ENTAMOTY Meeting Host | Maintain weekly Sunday 8PM UTC Web3 fundraising discussions and promote WhatsApp community for ongoing participant engagement. | 01:21:30 |
Next meeting: Sunday 8PM UTC
