VanEck, a renowned asset management firm, has announced the launch of its flagship ventures and committed a $30 million fund to bring more innovation into the crypto and AI sectors. The firm confirmed the development in a Wednesday press release.
According to the announcement, VanEck venture is dedicated to supporting small-scale companies operating within the scope of Fintech, Digital assets, and Artificial Intelligence (AI). Similarly, the firm also invests in companies that are in the pre-seed or seed stage of development. However, it is worth noting that the expansion of VanEck into a venture capital further solidifies its established records of identifying and supporting transformative markets.
More so, the VanEck team focuses on providing financial support to teams building at the application layer while maintaining an infrastructure-agnostic approach. Similarly, the venture fund will dwell on core aspects in the digital landscape such as tokenized assets, internet native financial marketplaces, tokenization, and next-generation payment system.
The VanEck ventures fund was led by seasoned investors, Wyatt Lonergan and Juan Lopez who previously led Circle Ventures. The Circle Ventures was the investment arm of USDC issuer Circle where over $50 million was invested in start-ups.
VanEck to invest in 25-30 projects
Meanwhile, VanEck Ventures plans to invest the $30 million funding in 25- 30 different projects. Each project is to receive $500k to $1million in funding. Already, the funds have been invested in four yet to be announced projects. That said, only two-thirds of the funds came from other investors as the rest came directly from VanEck.
Wyatt Lonergan, the General partner at VanEck Venture pointed out that the investment has three core reflection points. They include the emergence of stablecoin as an open-source banking layer, the commoditization of blockspace and AI breakthroughs. These elements, according to the exec, creates an unprecedented opportunities for globally connected users.
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