VanEck Ventures looks to support 30-35 startups in the crypto and AI space with investments of up to $1 million.
Global asset manager and Bitcoin ETF issuer in the US, VanEck, announced the launch of its venture fund to invest in crypto and AI projects. Its investments will support 30-35 budding companies, ranging between $500,000 and $1 million. The fund, called VanEck Ventures, “focuses on investing in fintech, digital assets, and AI startups in the pre-seed and seed stages,” a release read.
“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. “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.”
Circle Alumni Will Lead VanEck Ventures
Leading the charge of the fund will be Wyatt Lonergan, Circle Ventures’ former head, and Juan Lopez, Circle Ventures’ former head of corporate development and ventures. Circle Ventures is the investment arm of Circle Internet Financial, the well-known issuer of the popular USDC stablecoin. The duo oversaw investments of $50 million in startups offering infrastructure and consumer solutions at their previous jobs.
Source: VanEck
Lonergan, now general partner at VanEck Ventures, mentioned, “Three inflection points core to our investment thesis are starting to reshape the foundation of the internet: stablecoins emerging as an open-source banking layer, the commoditization of blockspace, and AI breakthroughs.” He believes the unison of the three points to be innovating borderless financial experiences centered around users.
Juan Lopez, also employed as a general partner at VanEck Ventures, 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.”
VanEck Ventures has already begun investing, with four projects receiving its support. The early-stage fund will reveal the projects it has invested in soon. Tech media outlet The Information revealed that two-thirds of the fund’s capital was raised from external investors, and the remaining coughed up internally.
“Despite shaky sentiment and regulatory migraines, we’re not backing down. We believe this technology will reshape the financial system and beyond,” VanEck’s X account read. “If you’re a founder crazy enough to build something great, we may be crazy enough to fund it.”
