VanEck has launched a crypto venture fund to support early-stage startups in the industry, apart from other sectors like artificial intelligence and fintech.
VanEck, a leading asset management firm, has announced the launch of a crypto venture fund catering to early-stage startups. Apart from crypto, the fund will also invest in fintech and artificial intelligence startups. According to a press release, the fund will back seed and pre-seed stage firms.
Meanwhile, VanEck has already launched spot crypto ETFs in the US this year. The crypto ETFs have garnered millions of inflows so far. Through this new fund, the firm has extended its support to the growing number of startups in the space.
CEO of VanEck, Jan van Eck, said, “From pioneering an approach to gold investing in 1968 to recognizing the disruptive potential of Bitcoin in 2017, embracing a long-term view on transformative opportunities has always been part of our investment philosophy. This fund extends that vision into the early-stage venture space.”
Further, the press release described how the fund would look for founders leveraging upcoming technologies like blockchain and large language models. Its core themes would include payments built on tokenized capital markets and stablecoins, tokenized assets, and others. The investors heading the fund have headed investment funds in stablecoin issuer Circle earlier, shared the press release.
Moreover, the range of ticket sizes for investments would be between $500,000 and $1 million. The fund would invest in about 25 to 25 startups.
According to recent reports, startups in the crypto space have continued to attract capital despite global headwinds. Positive investor sentiments have reemerged in the sector after a brief period of uncertainty in 2022. This trend could eventually result in more cutting-edge innovations in crypto in the near future.
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