Kraken Ventures, an independent fund led by Kraken Alumni focused on early-stage blockchain companies and protocols, has announced the completion of its first round of funding of $ 65 million.

Kraken Ventures Announces $ 65 Million Fund

Much capital has been poured into funds that provide early-stage liquidity to crypto companies and blockchain protocols. Software startups have many resources to choose from when developing concepts for GameFi, Play-to-Earn protocols, DeFi, NFT, other cryptocurrencies and blockchain solutions.

For example, Binance Smart Chain (BSC) and Animoca Brands recently launched a $ 200 million crypto game incubator along with a Web3 fund recently founded by Solana Ventures, Forte and Griffin Gaming. In mid-November, Kucoin Labs launched a $ 100 million Metaverse fund, and that same week Paradigm launched a $ 2.5 billion venture fund.

On Friday, Managing Partner of Kraken Ventures, Brandon Gath, announced the launch of a $ 65 million Kraken Ventures Fund I LP. The Fund will seek initial initial investment in companies and protocols with a cap of $ 500,000 to $ 2 million.

The organization says Fund I LP will create the next wave of crypto and fintech innovation. In particular, Kraken Ventures covered consumer cryptocurrency protocols, artificial intelligence (AI), machine learning, financial infrastructure, Web3 and DeFi.

The Kraken Ventures CEO shared:

“We are very pleased that we have successfully acquired our first fund. Our long-term view of the investment and our ability to leverage Kraken’s experience in building a truly global, scalable platform has certainly fueled the great interest we have received from investors. “

“Our focus now is on putting that money into work and helping some of the most innovative projects and their exceptionally talented founders accelerate the growth of businesses and protocols.”

Kraken Ventures also announced that Laurens De Poorter has been appointed Head of the Fund for Europe. This is part of a global expansion by Kraken Ventures, and De Poorter says the crypto scene in Europe is booming.

“In view of institutional capital inflows and an impending wave of regulation, one of the most promising areas will be the interface between crypto and fintech,” emphasized the market leader of Kraken Ventures Europe.

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