US$ 44 billion market capitalization and 5 unicorns
Zug-based investors CV VC, in collaboration with consultancy PwC Strategy& Switzerland and technology provider inacta, has compiled the first ever list of the top 50 companies in Crypto Valley. It reveals that Blockchain companies employ around 3000 people in Switzerland and Liechtenstein and have a combined market capitalization of US$ 44 billion. Included among the top 50 are five unicorns – startups with a market valuation of over a billion dollars.
Zug, October 9, 2018 – 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& Schweiz 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$10 million or the provision of at least 10 full-time positions in Switzerland or Liechtenstein.
CV VC’s report sheds light on the various sub-sectors of the industry, their market capitalization and their headcount.
Highlights at a glance:
- At the end of September 2018, CV Maps directory contained over 600 companies working with blockchain technology (directly, or as a service provider, such as specialized consultancies, law firms, blockchain organizations and academic institutions).
According to CV Maps database, Blockchain companies employ around 3000 people in Switzerland. The Top 50 alone counts 443 employees. Most companies employ many more people abroad.
- The Top 50 companies together have a market capitalization of around US$ 44 billion, however the consolidated value of the sector overall can only be estimated, as many companies do not publish exact data.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.
Download the report „Top 50 Blockchain Companies“ – this is the first issue of CV VC Insights with the complete report on the Crypto Valley’s Top 50.Weiterlesen