VanEck Ventures aims to support early-stage startups at the convergence of digital assets, AI, and fintech, with a focus on transformative opportunities in the technological landscape.
Global investment management firm VanEck has launched an ambitious initiative to bolster growth in the innovative spheres of cryptocurrency, artificial intelligence (AI), and financial technology (fintech). Announced on 9th October, the new $30 million fund, named VanEck Ventures, is specifically designed to invest in early-stage start-ups that operate at the convergence of digital assets, AI, and fintech.
The fund intends to strategically and financially support between 25 and 35 nascent companies, with each investment ranging from $500,000 to $1 million. The focus will be on startups showing significant potential in areas such as tokenised assets, stablecoin payment solutions, and the rapidly evolving web3 financial marketplaces.
VanEck Ventures will be led by Wyatt Lonergan and Juan Lopez, who are both taking on the roles of general partners. The duo brings valuable expertise to the table, having previously overseen investments for Circle’s $50 million early-stage fund. Circle, a leading cryptocurrency finance company, notably invested in the layer-1 blockchain project Sei the previous November.
The initiative is backed by VanEck’s comprehensive global resources and guided by its senior leadership team. Jan van Eck, CEO of VanEck, articulated the company’s enduring philosophy of identifying and investing in transformative opportunities. He highlighted the firm’s historical precedent of pioneering approaches, such as gold investing in 1968 and the early recognition of Bitcoin’s disruptive potential in 2017. With VanEck Ventures, the company extends this vision into the early-stage venture capital space.
Though specific details of its initial investments have not been disclosed, VanEck Ventures has already committed to four companies that align with its investment criteria. These investments underscore the fund’s strategy to leverage the promise of emerging technologies to drive both strategic growth and financial returns.
This fund represents a significant step for VanEck, positioning itself at the forefront of an evolving technological landscape where digital assets, AI, and fintech intersect. Through VanEck Ventures, the firm aims to nurture innovations that can potentially redefine existing financial systems and contribute to the digital transformation of traditional industries.
Source: Noah Wire Services
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