Investment management giant VanEck is launching a new multi-million dollar venture fund focused on cryptocurrencies and artificial intelligence (AI).
In a new press release, the exchange-traded fund (ETF) provider says it is an initial $30 million seed fund focused on investing in companies “operating at the intersection of fintech, digital assets, and AI.” Announced the launch of VanEck Ventures.
Jan van Eck, CEO of the company, said:
“From pioneering our approach to gold investing in 1968 to recognizing the disruptive potential of Bitcoin in 2017, embracing a long-term view of transformative opportunities has always been part of our investment philosophy. This fund extends that vision into the early stage venture space.
We look forward to supporting the founders of one of the most disruptive companies in fintech – the companies that are building the future of finance. ”
According to a press release, the fund will focus on projects focused on tokenized assets, native on-chain marketplaces, and next-generation payment platforms.
Wyatt Lonergan, general partner at VanEck Ventures, said:
“Three inflection points at the core of our investment thesis are beginning to reshape the foundations of the internet: stablecoins emerging as an open source banking layer, commoditization of blockspace, and breakthroughs in AI. .
These convergence are creating unprecedented opportunities to enable globally connected, user-centric financial experiences, and we are excited to support founders building on these innovations. ”
The fund has already made four investments, but they have not yet been disclosed. In total, the fund plans to make 25 to 35 investments, with each investment ranging in size from $500,000 to $1 million, according to a press release.
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