A global investment management firm Vaneck has announced the launch of staggering $30M early-stage venture fund for startups of fintech, crypto and AI startups. This initiative is known as Vaneck Ventures. The fund’s main concern is to support companies in pre-seed and seed stages, continuing the firm’s strategy of investing in transformative markets. The firm is going to invest in 25 to 35 startups, with cheque sizes ranging from $500K to a million. Its focus is fixated on supporting companies that develop technologies such as blockchain and tokenized assets.
As per reports, Vaneck Ventures has already invested in four companies with details yet to be announced. The firm being backed by industry veterans Wyatt Lonergan and Juan Lopez sets the fund in a better position and is able to make use of their extensive experience in fintech and crypto ventures.
Vaneck is known for its early investments in gold and bitcoin and now it ventures into Artificial Intelligence (AI), financial technology (fintech) and cryptocurrency. This convergence is seen as the driving force behind the next wave of financial innovation.