Bitcoin Billionaire Casares Seeking To Invest In Kenyan Tech Companies
Founder and Chief Executive Officer of Xapo, Wences Casares is in the country in search of investment opportunities especially in technology firms.
Xapo is a bitcoin wallet start up company based in California which allows people to purchase bitcoins and manage them in a digital wallet.
The technology entrepreneur, who is the largest custodian of bitcoin in the world joined investors in Nairobi to celebrate the Sh4.8 billion joint investment in Kenyan-owned digital payments firm Cellulant by US firms Endeavor Catalyst and Rise Fund.
He is also a global board member of PayPal and Endeavor Catalyst, an organization that promotes high-impact entrepreneurship in emerging markets.
He spoke during an interactive session at the Endeavor Kenya head office in Nairobi where he encouraged entrepreneurs to invest more in technology start-ups.
The 44-year old Argentine noted that he would invest more in Kenya if he found possible ventures. He encouraged local entrepreneurs to focus on the long-term vision as opposed to short-term challenges.
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“My biggest regret is that I have sold startups for billions of dollars. Yes, I got the money but no satisfaction because ultimate satisfaction comes from starting a company and building it to realise the vision for which it was started,” he said.
“Starting a company and selling it is like giving birth to babies in the hope of selling them in future, which is not good,” he added.