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VanEck launches $30m fund for crypto and AI startups

source-logo  crypto.news 09 October 2024 11:04, UTC

VanEck has announced the launch of VanEck Ventures, a $30 million early-stage fund focused on fintech, digital assets, and artificial intelligence.

The fund will support pre-seed and seed-stage startups, with investment amounts ranging from $500,000 to $1 million per project. VanEck is a global investment firm managing $115 billion in assets.

Led by former Circle Ventures heads Wyatt Lonergan and Juan Lopez, the fund aims to identify and back 25 to 35 startups that offer both financial and strategic upside. Lonergan and Lopez bring a wealth of experience from Circle, where they successfully invested over $50 million in similar ventures.

This move marks VanEck’s deeper foray into venture capital, continuing its long-standing approach to transformative investments, such as gold in 1968 and Bitcoin (BTC) in 2017.

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Fund details

The fund will primarily invest in companies building at the application layer — those focused on tokenized assets, digital financial marketplaces, and next-generation payment systems using technologies like stablecoins and blockchain.

These technologies represent the evolution of digital finance, enabling faster and more efficient transactions without relying on traditional banks.

For those unfamiliar with the space, digital assets refer to tokenized forms of value, such as cryptocurrencies, while stablecoins are digital currencies pegged to traditional currencies to minimize volatility. VanEck Ventures is betting on these innovations, which are seen as key to the next phase of financial services.

VanEck Ventures has already made four undisclosed investments and plans to continue expanding its portfolio in fintech, crypto, and AI.

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