Exclusive Interview: Featuring the MD of CV VC Africa, Gideon Greaves.

October 26, 2023

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Gideon Greaves, the Managing Director of CV VC Africa, was recently interviewed by Africa Talks Business.

If you are an entrepreneur, reading about Gideon’s beginnings will be very motivating for you. Not everyone has an easy beginning, and we can learn from Gideon’s story that some ideas work and some you should let go of in order to advance to bigger endeavors in the future.

Gideon provides us with some really useful information about what funders are looking for and the real impact that CV VC is having on Africa.

It is crucial that we recognize that Africa is a continent that is experiencing growth, and CV VC is making outstanding efforts to ensure investors and entrepreneurs are not only funded, but also provided with the knowledge and resources necessary to succeed through their CV Labs.

Read more below:

Just a background on you & how your journey started.

“I began my entrepreneurial journey observing changing dynamics across various sectors, especially the health food industry. This led me to launch my first business, Green Machine, in South Africa. Despite the funding challenges inherent to startups, I successfully navigated through and ultimately sold the company to Montagu. Simultaneously, I capitalized on the shared-economy trend and established a fleet of vehicles operating on Uber’s platform in South Africa, which I later sold. My interest in digital trends drove me to explore the world of blockchain, leading to my venture into digital asset management focused on altcoin investments. After a stint with Snack Magic, a New York startup, I found my true calling in venture capital. I now serve as MD at CV VC Africa, where we aim to foster technological innovation and make a significant impact by investing into start-ups that utilize blockchain technology.”

How many companies have you sold and do you miss any?

“I’ve had the chance to be part of two business exits: Green Machine and the Uber fleet operation. In addition, I’ve been involved in other companies that have undergone acquisitions, each of which offered its own unique learning experiences. I don’t necessarily miss the companies, but I do have a fondness for the early stages of a startup. There’s a special kind of energy in those initial stages of business creation that is truly invigorating.”

What was your Journey like at Snack Magic?

“At Snack Magic, I was fortunate to work in a high-growth, US-based startup environment. The culture of endless possibilities and the feeling that there were no limitations was inspiring. We were able to raise $15 million at a $100 million valuation within the first year of starting the business. Though I enjoyed the experience, my interest in venture capital drew me away from the company.”

What impact does CV VC intend to make in Africa?

“CV VC is here to tap into the unique opportunities Africa presents. African entrepreneurs are solving tangible problems and demonstrating the true use cases of blockchain technology. Our goal is to support these innovators with funding and an integrated ecosystem that offers access to networking, acceleration programs, research and more. We believe that the future of technology, particularly blockchain, could be pioneered here in Africa.”

What does success mean to you?

“For me, success is about creating an impact. It’s about contributing to an ecosystem that supports innovation, particularly in the blockchain space, and watching it flourish. It’s also about leveraging technology to solve real-world problems and provide value to the community, and helping other entrepreneurs achieve their goals.”

Why is Tech important in Africa right now?

“Tech is crucial in Africa right now because it offers an opportunity to leapfrog traditional infrastructure and directly implement advanced, more efficient systems. In areas like finance and property verification, blockchain technology can address some of the biggest challenges. Furthermore, it can provide transparency and traceability in government processes, potentially reducing corruption and fraud.”

What advice would you give a young tech entrepreneur looking for funding?

“Firstly, ensure your idea provides a tangible solution to a real problem. Funders are looking for utility, not speculation. Secondly, understand that perseverance and resilience are key – funding may not come easily or quickly, but don’t give up. Network as much as you can and make use of platforms that can help propel your business to the next level. Lastly, have an understanding of venture capital, how VCs operate, and what they look for in startups. This knowledge will help you present your idea in a way that resonates with potential investors.”