VanEck launches new crypto fund focused to invest in founders innovating at the intersection of crypto, fintech, and artificial intelligence (AI).
The fund, dubbed VanEck Ventures, is the company’s latest move toward expanding into the early-stage venture ecosystem.
According to the announcement, the company has allocated $30 million to the new fund to invest in early-stage founders operating at the intersection of fintech, crypto, and AI.
Former Circle Ventures Execs to Lead VanEck New Fund
Notably, the fund will be led by former Circle Ventures executives Juan Lopez and Wyatt Lonergan. These former executives spearheaded the company’s investments in more than 100 early-stage projects.
With their selection as leaders of VanEck Ventures, VanEck hopes to replicate a similar feat and invest in multiple early-stage companies through its $30 million fund.
VanEck to Invest in 35 Early-Stage Projects
Through the newly created fund, VanEck aims to invest around $1 million each in 25 to 35 early-stage projects over the next few years.
“Our investment philosophy is clear: We’re infrastructure-agnostic and investing in exceptional teams defining the application layer in their respective categories,” VanEck remarked.
Additionally, VanEck specified that its investment will cut across diverse sectors, including on-chain payment systems, stablecoin-based applications, tokenized assets, and marketplaces.
In the meantime, the asset manager has already made four investments. It promised to share more details about its latest investments soon.
VanEck to Reinvigorate Crypto Landscape By Supporting Development of Utility Projects
The newly created fund is VanEck’s effort to bolster the development of crypto-related products that deliver real value to users. In a statement today, the asset manager said the crypto industry is currently at a crossroads, with many people focused on token launches and infrastructure investments.
Per VanEck, several venture capitalists (VCs) are chasing short-term gains through token unlocks, leading to a lack of accountability, conviction, and commitment.
Despite the regulatory hurdles and shaky sentiment in the industry, VanEck remains confident about crypto’s prospects, emphasizing that the technology would transform the global financial system and beyond.
The company supported this belief by launching VanEck Ventures to fund the development of utility projects, building trusts and delivering real value to users.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
