VanEck has unveiled a $30 million venture fund aimed at backing projects in the realms of crypto and artificial intelligence.
This $30 million VanEck Ventures fund is set to focus on investing in emerging fintech, cryptocurrency, and AI companies developing cutting-edge payment solutions.
As a leading issuer of spot Bitcoin ETFs in the United States, VanEck is embarking on a fresh venture to nurture emerging cryptocurrency and AI initiatives.
On Oct. 9, VanEck officially launched VanEck Ventures, a $30 million fund targeting pre-seed and seed-stage fintech, crypto, and AI startups.
VanEck Ventures identified tokenized assets, internet-native financial marketplaces, and payments involving stablecoins and tokenized capital markets as central to its investment strategy.
Wyatt Lonergan, former head of Circle Ventures, and Juan Lopez, who managed corporate development and ventures at the same firm, will head VanEck’s new fund.
Their expertise, combined with VanEck’s reputation in asset management, positions the fund as a valuable partner for innovative startups.
This move marks VanEck’s deeper foray into venture capital l, continuing its long-standing approach to transformative investments, such as gold in 1968 and Bitcoin in 2017.
In late 2021, Circle Ventures began serving as the venture fund for Circle Internet Financial, which operates USD Coin, the second-largest stablecoin by market cap.
As reported by The Information, external investors contributed about 66% of the capital for VanEck Ventures, while VanEck supplied the remainder from its internal funds.
Read also: VanEck’s meme coin index tracks Dogecoin, Shiba Inu, and others like PEPE, WIF, FLOKI, and BONK.
The fund will reportedly engage in equity investments and obtain shares in companies in return for tokens connected to specific projects.
“From pioneering an approach to gold investing in 1968 to recognizing the disruptive potential of Bitcoin in 2017, embracing a long-term view on transformative opportunities has always been part of our investment philosophy,” VanEck CEO Jan van Eck said.
He added:
“This fund extends that vision into the early-stage venture space. We look forward to supporting founders of what we believe are some of the most disruptive companies in fintech — those building the future of finance.”
