VanEck Crypto Fund Launched With $30 Million Raised

Key Points:

• VanEck has introduced VanEck Ventures, a $30 million early-stage fund focused on fintech, digital assets, and artificial intelligence.
• The VanEck crypto fund aims to invest in 25 to 35 projects at the pre-seed or seed stages.

VanEck, a global investment management firm with over $118 billion in assets under management, announced the launch of VanEck Ventures, a $30 million early-stage fund focused on fintech, digital assets, and artificial intelligence (AI).

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New $30 Million VanEck Crypto Fund for Fintech and AI Innovations

VanEck Ventures Fund I will invest in innovative solutions at the forefront of these focus areas, including tokenized assets, internet-native financial marketplaces, and stablecoin-based payment systems.

Also leading the fund are ex-Circle Ventures executives Wyatt Lonergan and Juan Lopez, who have joined VanEck as general partners.

The VanEck crypto fund would invest in 25 to 35 projects, each ranging between $500,000 and $1 million. So far, Lonergan and Lopez have made four investments, but they have kept that under wraps as the two refine their investment strategy and thesis.

Pre-seed and seed-stage companies are what VanEck Ventures targets, particularly those with strategic and financial prospects. Lonergan added that the fund is open to either token or equity deals for projects, per the flexible investment approach of the fund.

Continuation of VanEck Leading in Segment of Cryptocurrencies

Lonergan and Lopez will work hand-in-glove with the broader VanEck crypto team focused on exchange-traded funds and liquid asset management to build out VanEck’s owner-operated venture capital strategy.

With this VanEck crypto fund, it is envisioned that many company resources will be availed to foster growth in nascent and metamorphosing industries where an owner-operated mindset may prove more successful than pure invest-and-ignore strategies.

Notably, VanEck has been an innovator in the cryptocurrency space. The company was the first asset manager to file for a Bitcoin-linked ETF in 2017 and subsequently for Bitcoin and spot Ether ETFs in 2018 and 2021, respectively. The approval and launching of those spot crypto ETFs earlier this year further cemented the position held by VanEck in being at the forefront of this sector.

The launch of the VanEck crypto fund is its first foray into venture capital. The company looks forward to building a real stake in this rising landscape of fintech and AI through the establishment of VanEck Ventures.