CV Labs
written BY Nicolai Reinbold / Images provided by CV VC
Welcome back to another SHACK15 Partner Spotlight, where we highlight our partners who are changing the game in their fields.
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CV Labs is a blockchain-dedicated ecosystem business and co-working space, with more than 150 startups across Zug, Switzerland, Vaduz, Lichtenstein and Dubai, and part of SHACK15’s global network of partner hubs. They provide incubation for early-stage startups, excubation services for corporate clients, blockchain and entrepreneurship education, and industry events aimed to grow blockchain companies in Crypto Valley and beyond.
Last week, CV Labs’ parent company, CV VC released their sixth annual Top 50 Report, which highlights the top 50 companies in Crypto Valley and holds key insights on trends in the blockchain and crypto ecosystem as well as market valuation developments within Crypto Valley.
We sat down with CV Labs Co-head, Nicolai Reinbold to unpack their latest Top 50 Report and hear more on their perspective on the growth of blockchain and cryptocurrencies.
1. What is your mission behind CV Labs and CV VC?
CV VC is an early-stage venture capital investor with a focus on startups that build on blockchain technology. In addition to our venture capital investments, we operate our own incubator and ecosystem business under the CV Labs brand, which consists of various co-working spaces designed for early-stage startups, advisory services and events to help blockchain companies set up shop in Crypto Valley and beyond.
We believe that the next wave of large tech companies will be driven by catalyst technologies like blockchain, alongside AI, machine learning, automation and IOT, driving our investments to focus on the following six verticals: Future of Work, Lifestyle & Health, Education & Science, Security & Identity, E-Commerce & Logistics and Finance & Investing.
Our mission is to create a unique global blockchain ecosystem by providing early-stage companies with flexible offices and coworking spaces as well as incubation programs, advisory activities and events to nurture growth and success.
2. For those new to the term “Crypto Valley” can you explain what it is?
Simply put, Crypto Valley is the name of the forward-thinking region of Switzerland which spans from the canton and city of Zug to Liechtenstein.
From its favorable tax laws, legal stability, a penchant for experimentation, the crypto community has found a natural home in the region, even before the launch of Bitcoin.
The history of Crypto Valley has many known and unknown heroes. No single event or person can create such a thriving ecosystem, amend regulatory frameworks, or promote a location to hundreds, if not thousands of entrepreneurs around the world. Instead, many actions by individuals, government agencies, and companies helped create a unique set of historical circumstances over time.
With a tradition of financial prestige and a growing network of legal service providers, the emergent blockchain movement quickly caught on to these advantages too. Both Switzerland and Liechtenstein have since enjoyed thriving economies founded on cutting-edge ideas.
With over 960 prominent blockchain projects and more than 5,180 employees working at crypto-related companies based in the Crypto Valley, this legacy of innovation will be carried on long into the future.
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3. What opportunities have you seen arise in cryptocurrency and blockchain in the past year?
In the financial world, Bitcoin has now really arrived as an asset and many established players are now entering the market. This resulted in strong growth of AUM and innovation in products which provides access to cryptocurrencies in traditional ways, such as funds, ETPs, and other instruments.
We predict that big opportunities will arise for technology and service providers to bring efficiencies and scale to the financial services sector around digital assets, not just cryptocurrencies!
4. Tell us about the new CV VC Top 50 Report and key trends that you’ve found.
We just launched the sixth CV VC Top 50 Report, together with PwC, which examines the Swiss blockchain and crypto space (Crypto Valley), including the growth of the overall space and the increase of employment. It also highlights the 50 best companies in the space in terms of funding, valuation, and employees.
In the report, we found that despite the COVID-19 crisis, Crypto Valley experienced record growth in the second half or 2020 and the first two months of 2021. A record number of firms and projects joined the blockchain space, 110 new companies. Now, the Crypto Valley counts 960 companies and over 5140 employees. Additionally, valuations increased dramatically and the Crypto Valley Top 50 are now valued at $254.9B, up 680% from June 2020.
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5. What are the new crypto hotspots for those in the industry to keep on their radars?
Institutional adoption of cryptocurrencies in financial services and blockchain use cases in enterprises will certainly drive the hotspots in the coming year.
That said, we can expect significant activity in the traditional financial centers like NYC, Chicago, Hong Kong, Singapore, Switzerland, but also Wyoming and other jurisdictions which will drive adoption. In enterprise tech, the Bay Area, Switzerland, the UK, China and South Africa, as a hub for the African continent, will also see high profile blockchain deployments!
6. What’s next for CV VC / CV Labs ?
CV VC is steadily deploying capital and has a solid pipeline of exciting projects for investment. We will also be opening up to more investors interested in gaining exposure within the Crypto Valley.
CV Labs is always on the lookout for ground-breaking blockchain projects to disrupt legacy systems. In Fall of 2021, we are set to host our next incubation program for startups looking to learn from successful and visionary entrepreneurs, experts, and mentors in the blockchain space and beyond.
Applications are strong and any blockchain related project is encouraged to apply here!
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Thank you, Nicolai for taking the time to speak with us about CV VC’s newest Top 50 Report and for shedding light onto the Crypto Valley innovation space and what is expected to come.
In addition to their report, CV VC is hosting two virtual events in the coming weeks on Crypto Valley Unicorns and on the Flood of Institutional Investments in Crypto. Be sure to RSVP to join these conversations and download their report for insights on the next wave of developments in Crypto Valley!
Until next time, stay safe and stay tuned for more to come on the SHACK15 Journal.