Announcing the Crypto For Good Fund III: crypto for climate and financial resilience in emerging markets
In February 2024, Mercy Corps Ventures launched the third round of the Crypto for Good Fund. After two rounds of C4G featuring 400 applicants, 10+ launched pilots and $1M+ in capital committed to partners, we are excited to return with a third edition of the Fund.
PLEASE NOTE: The application deadline was 31 March, 2024. The application period is now closed. Stay tuned for updates.
Our high-level objective remains unchanged: fund impactful real world web3 use cases to drive global financial inclusion and climate resilience across emerging markets. Our ambition remains focused on building an evidence base to prove the scalability of blockchain-enabled solutions in making a positive impact in emerging markets.
With 15 web3 pilots launched to-date, we aim to continue pushing the frontiers of innovation to identify the highest-potential, highest-impact initiatives in the cryptoverse.
As we shared last year, globally, 1.4 billion adults remain unbanked and completely excluded from the financial system. Nearly 60% are women. The exclusion of women from the financial system leads to poorer life outcomes for themselves and their families, and constrains the potential of society as a whole.
With 2023 the hottest year on record, 3.3 billion people are at risk and highly vulnerable to climate change. 130 million people will be pushed into poverty by climate change by 2030, and emerging markets are expected to bear 75–80% of climate change costs, despite carrying the smallest climate footprints. Under-represented groups within emerging markets are disproportionately impacted such as youth, smallholder farmers, informal merchants, gig workers, displaced populations, and women.
This edition of the Fund will be focused on the next frontier of crypto innovation. We’re looking for builders who are pushing the boundaries to improve the lives and livelihoods of underserved users across the emerging markets.
Priority themes include, but are not limited to:
- DePIN — how can we improve financing for critical climate-smart infrastructure?
- Humanitarian aid delivery — how can we better serve the 299M people in need of aid?
- Ramps — how can we onboard more people to financial freedom?
- RWA / asset tokenization — how can tokenized assets improve livelihoods?
- ReFi — how can we promote and restore the environment alongside financial gains?
Mercy Corps Ventures (MCV) is looking for startups and organizations operating in Africa, South and Southeast Asia, Latin America, the Caribbean, the Middle East, Pacific Islands, and Western Balkans who innovatively apply Web3 and blockchain technology to build solutions for underserved populations.
The Fund will provide equity-free grants of up to $100,000 to ten eligible startups. Alongside capital, MCV will also provide mentorship, impact measurement advisory, access to partnership opportunities, knowledge exchange, and brand exposure.
In the first phase of the Fund, launched in 2022, we received nearly 200 applications from 50+ countries around the globe. Selected partners included Empowa, using NFTs to fuel affordable, climate-smart housing in Mozambique, Atlantis DAO, building a decentralized token network for clean water access in India, and Forest Carbon, building equitable carbon offset projects in Indonesia with Web3.
In the second phase of the Fund, launched in 2023, we received over 200 applications from 50+ countries. Selected pilot partners included DIVA Donate, providing anticipatory cash transfers for climate shocks, FarmStar (part of the Sanergy network), promoting regenerative agriculture through web3 loyalty tokens, and Quipu, unlocking DeFi Loans for informal MSMEs in Colombia.
Whether you’re curious about crypto or Web3-native, we’re excited to hear about your pilot proposal.
Applications will be reviewed on a rolling basis. Get noticed early and avoid waiting until the deadline.
Deadline for application: March 31, 2024
If you would like to learn about Mercy Corps Ventures Crypto For Good Fund, find details in the links below.
Frequently Asked Questions
Terms & Conditions
About Mercy Corps Ventures (MCV)
Mercy Corps Ventures invests in and catalyzes venture-led solutions to increase the resilience of underserved individuals and communities. Founded in 2015 as the impact investing arm of global development agency, Mercy Corps, we’ve supported 47 early-stage ventures to scale and raise over $443 million in follow-on capital. Our portfolio is 49% female-founded and centers around resilience-building solutions in adaptive agriculture and food systems, inclusive fintech, and climate-smart technologies, so that those living in frontier markets can withstand disruption and plan for the future. Through capital and support, piloting new approaches, action-oriented insights, and rigorously managing impact, we catalyze the ecosystem toward smarter, more impactful investments.
Learn more at www.mercycorpsventures.vc; if you have any further questions, please contact Crypto For Good Fund Manager Timo Asiimwe tasiimwe@mercycorps.org
