Real World Use Cases for Web3 in Emerging Markets: Launching the Crypto For Good Fund II
On 14 February 2023, Mercy Corps Ventures launched their second round of the Crypto for Good Fund.
PLEASE NOTE: The application deadline was 31 March, 2023. The application period is now closed. Stay tuned for updates.
The objective of the Fund is to drive global financial inclusion and climate resilience through a series of pilots, building an evidence base to prove the scalability of blockchain-enabled solutions in making a positive impact in emerging markets.
Globally, 1.4 billion adults remain unbanked and completely excluded from the financial system. Of this, nearly 60% of those excluded 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.
At the same time, there are 3.3 billion people whose daily lives 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. Groups within emerging markets are disproportionately impacted such as youth, smallholder farmers, informal merchants, gig workers, displaced populations, and women.
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 innovatively apply Web3 and blockchain technology to build solutions for underserved populations.
Priority focus areas include, but are not limited to:
- Access to credit for underbanked users
- Nature-based solutions for climate resilience
- Humanitarian aid delivery
- Transparent supply chains
- Crypto-enabled wallets for underserved users
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. Winners 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.
Whether you’re curious about crypto or Web3-native, we’re excited to hear about your pilot proposal.
PLEASE NOTE: The application deadline was 31 March, 2023. The application period is now closed. Stay tuned for updates.
If you would like to know more about Mercy Corps Ventures Crypto For Good Fund, find details in the links below.
Frequently Asked Questions
Term Sheet
Webinar Recording & Webinar Slides
If you have any further questions, please email mcv@mercycorps.org
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 41 early-stage ventures to scale and raise over $333.9 million in follow-on capital. Our portfolio is 51% female-founded and centers around resilience-building solutions in adaptive agriculture and food systems, frontier fintech, and climate smart systems, so that those living in frontier markets can withstand disruption and plan for the future.
As part of our focus on financial inclusion and climate resilience, MCV works with partners to responsibly pilot new products and services tailored to un/underbanked and low-income populations.
