WEB3
by BSCN
October 9, 2024
The fund’s focus is on tokenized assets, stablecoins, and next-gen payment systems, all of which are considered transformative areas in the future of finance.
Global investment management firm VanEck is making its mark in the venture capital (VC) space with the launch of VanEck Ventures, a $30 million fund dedicated to early-stage startups in fintech, digital assets, and artificial intelligence (AI).
VanEck, which manages over $118 billion in assets, is no stranger to innovation. It was one of the first firms to embrace Bitcoin and other digital assets. Now, it’s extending its expertise into the world of venture capital, targeting high-potential, early-stage companies in finance.
VanEck Ventures will be led by Wyatt Lonergan and Juan Lopez, both seasoned investors with experience in crypto and fintech, according to an announcement from VanEck. Their leadership stems from previous roles at Circle Ventures, where they oversaw investments in early-stage firms.
The newly launched fund will target startups working at the convergence of fintech, digital assets, and AI. From tokenized assets to next-generation payment systems, the focus is on companies building infrastructure and applications that can shape the future of the financial ecosystem.
“Our long-term view has always been to identify disruptive opportunities early,” said Jan van Eck, CEO of VanEck. “This fund takes that vision into the venture space, and we’re excited to support founders building the future of finance.”
VanEck Ventures is especially interested in blockchain innovations, including tokenized assets and stablecoins.
Lopez highlighted the importance of these blockchain-based innovations, stating that stablecoins will act as an “open-source banking layer,” providing businesses with scalable, near-instant payment solutions.
Lopez also pointed to the growing role of stablecoins in global finance, specifically in the $39 trillion business-to-business cross-border payments market. As stablecoin regulations evolve, they are expected to provide solutions that surpass traditional wire transfers and services like PayPal, ultimately driving broader adoption in on-chain and off-chain systems.
VanEck was one of the first major asset managers to enter the cryptocurrency space. It made headlines in 2017 by filing for a Bitcoin-linked ETF and, more recently, for launching a spot Bitcoin ETF and a spot Ether ETF.
The recent VanEck Ventures fund will focus primarily on pre-seed and seed-stage companies, aiming to invest in 25 to 35 startups with checks ranging from $500,000 to $1 million. Per reports, these companies will offer a mix of both financial and strategic value, with a clear emphasis on fintech and blockchain applications.
VanEck Ventures has already made four unannounced investments as part of its first fund. The fund is open to both equity and token projects, allowing VanEck to support startups with flexible funding structures.
“From the start, VanEck has been about identifying opportunities ahead of the curve, and our venture fund continues that legacy,” said Lonergan. “We’re confident that the companies we back will play a major role in the future of finance.”
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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