Tue, Dec 11, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Crypto Valley's top 50 companies: $44bn market capitalization and 5 unicorns

Wednesday, October 10, 2018
Opalesque Industry Update - The number of companies in Crypto Valley working with blockchain technology is growing rapidly. As of September 30, 2018, a total of over 600 blockchain related companies in Switzerland and Liechtenstein were registered on CV Maps, an online directory of the blockchain industry created and maintained by CV VC. The number is nearly double that recorded in the spring of this year.

CV VC, a blockchain-focused investor and incubator in Zug, has worked with PwC Strategy& Switzerland and the information management firm inacta to identify the top 50 Crypto Valley companies based on CV Maps data.

Strong capital base

Companies qualifying for this crypto super-league must meet three criteria: Firstly, blockchain technology has to be part of the company's core business, secondly, it must employ more than one person in Switzerland or Liechtenstein, and lastly, it should make some contribution to the blockchain ecosystem and the wider Crypto Valley community. There are three additional criteria, at least one of which must be fulfilled: Funding in excess of US$10 million, a valuation of more than U$10 million or the provision of at least 10 full-time positions in Switzerland or Liechtenstein.

CV VC's report sheds light on the various sub-sectors of the industry, their market capitalization and their headcount. Some highlights at a glance:

- At the end of September 2018, CV Maps directory contained over 600 companies working with blockchain technology (directly, or as a service provider, such as specialized consultancies, law firms, blockchain organizations and academic institutions).

- According to CV Maps database, Blockchain companies employ around 3000 people in Switzerland. The Top 50 alone counts 443 employees. Most companies employ many more people abroad.

- The Top 50 companies together have a market capitalization of around US$ 44 billion, however the consolidated value of the sector overall can only be estimated, as many companies do not publish exact data.

- The Top 50 companies have a very strong capital base, especially compared to other startups. Many of them have funding in the tens or hundreds of millions.

- Five Blockchain Unicorns are either based in or have originated from the Crypto Valley: Bitmain, Cardano, Dfinity, Ethereum and Xapo.

Crypto Valley contains a large subset of the blockchain industry, from health tech to data analytics to e-government. Two secondary areas feature in the top 50 list: the first is broker, trade & exchange and the second is platform & protocol. Each is represented by 11 companies. Other sub-sectors that include many companies are hardware & middleware as well as community, P2P & loyalty.

In addition to CV Maps' own databases, data used to compile the Top 50 was drawn from information provided by the companies themselves, from crypto exchanges, media reports and social media such as LinkedIn. Where no information was available, estimates were made and declared as such in the CV VC Report. Estimates of worth were rounded into four categories: $10 million, $25 million, $100 million and $1000 million ($1 billion).

"The Top 50 report shows that Crypto Valley has retained its appeal as a location for blockchain companies from all sectors" said Ralf Glabischnig, founder and managing partner of information management firm inacta, which built the CV Maps database.

The new information provided by CV Maps sheds light on the rapid growth rate of Crypto Valley. At the time of its April 2017 launch, the online directory contained 350 companies, just over half as many as there are today.

Partnership with PwC

CV VC's collaboration with PwC in developing the Top 50 report is part of a long-standing strategic partnership between the consulting firm and CV Labs, the CV VC's co-working space in the center of Zug.

Daniel Diemers,PwC Strategy& EMEA Blockchain Leader, said: "Crypto Valley has grown enormously in a few years. Even two or three years ago, there were just 10 to 15 companies in the blockchain industry. PwC was quick to realize the potential of Blockchain and how it is important for companies to understand the technology and to get close to innovative startups in the field".

"Partnering with CV Labs and CV VC gives our clients this access. From the other direction, we also want to bring startups closer to potential investors and partners", said Daniel Diemers. PwC has a global team of 2,000 blockchain specialists.

CV Labs, CV VC's coworking space in the heart of Zug, is home to a growing number of blockchain startups, crypto funds, academic institutions and industry group The Crypto Valley Association since the beginning of 2018. With more than 100 tenants, Crypto Valley Labs has grown fast, opening two new floors of office space in September. "The strategic partnership with PwC shows that established companies are now entering the blockchain industry," said Mathias Ruch, CEO of CV VC.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Northern Trust builds out alternative funds offering on wealth management platform[more]

    Laxman Pai, Opalesque Asia: Chicago-based asset manager Northern Trust has added private market capabilities to supplement the recently launched ArcLine Alternatives platform for the firm's wealth management clients. The administrator of assets worth $10.8tn said in a press note that the priv

  2. New Launches: Fidelity launches water and waste strategy, NewView Capital debuts with $1.35bn fund, Värde Partners raises $400m for Asia Credit Fund[more]

    Fidelity launches water and waste strategy From Investment Europe: Fidelity has unveiled a strategy focusing on sustainable investment opportunities within the water and waste management sectors. The Fidelity Sustainable Water and Waste Fund seeks to deliver strong risk adjusted returns a

  3. Activists: Neiman Marcus creditor steps up attack on MyTheresa transfer plan, Aphria calls shortseller claims 'false and defamatory', Marijuana stock Aphria plummeted as it fought a short seller who called out 'something very sinister'[more]

    Neiman Marcus creditor steps up attack on MyTheresa transfer plan From Business of Fashion: Neiman Marcus is once again feeling the heat. On Monday, one of its creditors - distressed debt investor Marble Ridge Capital - delivered an urgent letter to to the department store group's board

  4. Outlook: The economist who discovered the yield curve's predictive powers says he's getting worried, The 'big squeeze': Ray Dalio, founder of the world's largest hedge fund, breaks down how the next financial meltdown will look different from the last[more]

    The economist who discovered the yield curve's predictive powers says he's getting worried From CNBC: Arturo Estrella and his former Fed colleagues used to watch the relationship between the 10-year Treasury and the 3-month bill. A lot of people have been focused lately on the di

  5. People: Deutsche Bank appoints new country head in Switzerland, London's MENA Capital and Dubai's Al Mal agree collaboration deal, BlueBay appoints new CIO[more]

    Deutsche Bank appoints new country head in Switzerland From Investment Europe: Deutsche Bank has appointed Claudio de Sanctis as the new chief executive officer of Deutsche Bank (Switzerland) Ltd, effective 1 February 2019, after Peter (Pedro) Hinder decided to step down. The appoint