Announcing the Crypto For Good Fund IV
PLEASE NOTE: The application deadline was 12 January, 2025. The application period is now closed. Stay tuned for updates.
In November 2024, Mercy Corps Ventures launched the fourth round of the Crypto for Good Fund. After three rounds of C4G, with over 500 applicants, 15+ launched pilots and 40,000+ users reached, we are excited to return with a fourth edition of the Fund.
Our high level objective remains the same: fund real world web3 use cases to drive global financial inclusion and climate resilience across the Global South. Our goal is to build out the evidence base to prove the scalability of blockchain-enabled solutions in making a positive impact in emerging markets.
With almost 20 web3 pilots launched to date, we aim to continue pushing the frontiers of innovation to identify initiatives in the cryptoverse with the highest potential for impact.
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 everyone, constraining the potential of women, their families, and society as a whole.
Web3 technologies provide a powerful new set of tools for evolving the financial services landscape. Startups are developing unique value propositions for emerging market users across a variety of sectors. At the same time, countries from the Global South such as Nigeria, Brazil, and India are leading the charge in grassroots crypto adoption. In fact, 15 of the top 20 countries ranked by Chainalysis’ Global Crypto Adoption Index for 2024 were from non-high income countries.
Today, stablecoins are the most widely used type of crypto asset, and we’ve seen several innovative solutions leveraging stablecoins to address the needs of underserved populations within our wider startup portfolio. However, while stablecoin-powered solutions hold great promise for unlocking financial and economic inclusion in emerging markets, much of this potential has yet to be realized — especially for underbanked households.
Moreover, 3.3 billion people are at risk and highly vulnerable to climate change. By 2030, climate change is expected to push 130 million people into poverty, and emerging markets are expected to bear 75–80% of the costs, despite having the smallest climate footprints. Underrepresented groups within these markets, including s youth, smallholder farmers, informal merchants, gig workers, displaced populations, and women, are disproportionately impacted.
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 Global South.
Priority themes include, but are not limited to:
- Broader access — how can we onboard more people to financial freedom?
- Programmable money — how can we create efficiencies by leveraging smart contracts?
- Locally-adapted solutions — how can we tailor web3 solutions to local contexts?
- Humanitarian aid delivery — how can we better serve the 299 million people in need of humanitarian aid?
- ReFi / Climate innovation — 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 that are innovatively applying web3 and blockchain technology to build solutions for underserved populations.
The Fund will provide equity-free grants of up to $100,000 to 10 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 over 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 over 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.
In the third phase of the Fund, launched in February 2024, we received over 120 applications from 44 countries. Selected pilot partners include WEIA, using blockchain traceability to unlock higher prices for smallholders in Colombia; and Haraka, offering reputation-based microloans to women savings groups in Ghana. We also launched our Humanitarian Lab to deliver stablecoins in a conflict-torn country for improved cash transfer.
For all impact-focused web3 builders in emerging markets, 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 applications: December 20, 2024
If you would like to learn about Mercy Corps Ventures Crypto For Good Fund, find details in the links below.
About the Crypto For Good Fund (C4G)
The Crypto For Good Fund, managed by Mercy Corps Ventures (MCV), provides equity-free funding to launch and test innovative, impactful web3 products in emerging markets, with a focus on financial inclusion and climate resilience. Since the first cohort in 2022, MCV has screened over 1,000 proposals, launched over 15 real world crypto use cases, and deployed over $3M in funding, impacting the lives of more than 40,000 people.
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 Mercy Corps, we’ve supported 54 early-stage ventures to scale and raise over $515 million in follow-on capital. Almost half (44%) of our portfolio has at least one female co-founder and centers around climate adaptation and resilience-building solutions in adaptive agriculture and food systems, inclusive fintech, and climate-smart technologies. These innovations are designed to help communities in frontier markets 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.
