VanEck establishes $30 million venture fund to support crypto and AI startups

Mila October 9, 2024

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Key Takeaways

VanEck Ventures plans to invest in 25 to 35 early-stage startups with a focus on digital assets and fintech.
The fund will emphasize investments in tokenization and stablecoin platforms, recognizing their potential in global payments.

VanEck, a well-established investment management firm, has launched a $30 million venture fund, named VanEck Ventures, to support early-stage companies operating in the fintech, digital asset, and artificial intelligence (AI) sectors, The Information reported Wednesday.

The fund, led by Circle Ventures alumni Wyatt Lonergan and Juan Lopez, plans to invest in 25-30 different projects. Each project can receive between $500,000 and $1 million in funding.

VanEck Ventures targets investments in companies that are in the pre-seed or seed stages of development. The asset manager is particularly interested in companies that are building innovative solutions in areas like tokenization, internet-native financial marketplaces, and next-generation payment systems.

The company envisions stablecoins revolutionizing payment systems, particularly in the $39 trillion B2B cross-border payments market. Lopez predicts that this area will see major advancements over the next five years.

VanEck has a history of identifying emerging trends and investing in them early on. The fund is part of VanEck’s broader strategy to expand its involvement in the digital asset space. The company aims to increase its exposure to crypto and related technologies, going beyond their existing offerings like ETFs.