VanEck Launches $30 Million Fund to Boost Crypto and AI Startups
Investment management firm VanEck has recently announced the launch of a $30 million venture fund. According to the firm, the fund was led by Circle Ventures alumni Wyatt Lonergan and Juan Lopez and has been earmarked to support startup firms within a specific range of sectors. The Wednesday press release confirmed that the fund will cater to startups in three main industries. Those are fintech, artificial intelligence (AI), and the digital asset industry. However, the plan is to invest in about 25 to 30 different projects under the sectors mentioned above, with each receiving anywhere between $500,000 to $1 million in funding. As of publication, the team confirmed that it has already invested in four projects so far. VanEck Targets AI Startups and Others For what it’s worth, VanEck invests in companies that are in the pre-seed or seed stages of development. However, the asset manager has a known preference for Web3-based firms, particularly those that specialize in areas such as AI innovation, tokenization, and next-generation payment systems. Lonergan spoke about VanEck’s investment strategy, noting that it aligns with the key areas that the firm has identified as vital to the reshaping of the foundation of the internet. He mentioned the emergence of stablecoins and breakthroughs in the AI space, among other things driving their investment interest. So, once VanEck is able to identify any company that is building on these innovations, backing such a firm comes naturally, Lonergan added. His statement reads in part: “The convergence of these is creating unprecedented opportunities for globally connected, user-centric financial experiences, and we are excited to back founders building on these innovations.” Lopez is also very optimistic about the future of blockchain technology. If not for anything else, the recent advancements that stablecoins are recording alongside the regulations that are becoming clearer create a favourable environment for the blockchain technology to thrive. Lopez said: “As several on-chain utilities, focused on programmability and compliance, come to market with growing regulatory clarity, it’s never been a more exciting time to build. Our goal is to be a long-term partner to bold founders defining the next phase of blockchain utility.”
