Keith Dube interviews Geneviève VC, Fabien Dureuil (English)
What is Genevieve?
We can describe Genevieve as a cryptocurrency FinTech or as a crypto venture capital firm. We are creating a system which makes it possible for anyone to invest in small businesses and local enterprises through our platform without an intermediary in a very efficient way.
What makes Genevieve different from other VC firms?
Genevieve connects investors with entrepreneurs on the Genevieve exchange platform; by supporting a SME, we create a token which represents the venture and offer it on the platform to private investors alongside an analysis of the market. We do not participate directly in the capital; but instead, broker such a relationship.
Tell us a little bit about what Genevieve has in the pipeline; what are you guys are working on?
Blockchain technology has influenced our way of thinking about new ways of financing human potential. We disagree that a bank loan for small entrepreneurs is an effective way of financing human potential. Student loan opportunities are restricted to the classic areas — Northern Europe, North America. We think that crypto tokens are something which makes it possible to become a financier for human potential. The idea would be to create a token per student by investors allocating a certain amount, where token value is correlated with student performance. Such a structure offers mutual benefits. This is our next ambition.
Why Africa? Tell us about your partnership with the Ivory Coast.
Yes, it’s true, it’s terrific; we’re going to sign a partnership agreement in two weeks with the National Export Council of the Ivory Coast and also the Chamber of Commerce. It’s very simple. Geographically in the world, how many sectors are there with two-digit growth? There aren’t many. Controlled financing is a problem in West Africa and we know West Africa well because it is largely French. In any case, they have the same financial laws. It has two-digit growth; it’s a dynamic economy; it’s a land of opportunity. However, it is complicated to go and invest directly in the Ivory Coast. An investor must have some understanding of French; they are going to have to find a local lawyer who knowledgeable of that area, open a bank account and possibly start a company/invest in a company with little local knowledge. We are simplifying matters: we have created an exchange which makes it possible for Ivory Coast entrepreneurs who wish to develop themselves to create a token with us. Investors will be able to examine a project and take a look at a detailed analysis and decide whether they like this project. I’m investing. And frankly we are creating a door into the world of venture capital for Ivory Coast.
