Kraken Ventures procures $ 65 million to invest in web3, defi, blockchain startups and protocols-news
Kraken Ventures procures $ 65 million to invest in web3, defi, blockchain startups and protocols-news
The independent investment fund, led by Kraken-Alumni, which focuses on companies and protocols in the initial phase, octopus ventures, announced the successful completion of his first fund of $ 65 million. The fund currently holds positions in platforms such as Hashflow, Pstake, Acala, Blockdaemon, Anchorage and Messari.
Kraken Ventures announces $ 65 million Fund I LP
an enormous amount of money was flowed into funds that provide crypto companies and blockchain protocols in the early phase of liquidity. Software startups have a variety of funds to choose from when you develop concepts, game finance (Gamefi), Play-to-Eearn (P2E) protocol, decentralized financing (defi), not fungible tokens (NFTS) and other types of crypto and blockchain solutions.
For example Binance Smart Chain and Animoca Brands have recently launched $ 200 million crypto-gaming-incubation fund , and a New Web3 fund was initiated by Solana Ventures, Forte and Griffin Gaming. In mid-November Kucoin Labs started a metaverse fund of $ 100 million and in the same week Paradigm 2.5 billion dollar risk.
On Friday, Brandon Gath, Managing Partner of Kraken Ventures, announced the laying of the $ 65 million “Kraken Ventures Fund I LP”. The fund will search for initial investments in companies and protocols in the initial phase, starting at $ 500,000 and up to $ 2 million.
The organization said that Fund I LP will drive the “next wave of crypto and fintech innovations”. Kraken Ventures mentioned in particular consumer crypto protocols, artificial intelligence (AI), machine learning, financial infrastructure, web3 and decentralized financing (Defini).
"We are very happy to have successfully completed our first fund," said Gath in a statement. "Our long -term view of investments and the possibility of using Kraken's experience in building a really global, scalable platform have definitely contributed to the overwhelming interest of investors." The managing director of Kraken Ventures added:
Our focus is now on investing this money in work and helping some of the most innovative projects and their exceptionally talented founders to accelerate the development of their companies and protocols.
Kraken Ventures also announced that Laurens de Porter was appointed European chief of the fund. The new leadership in Europe is part of the global expansion of Kraken Ventures and de Porter says that the "European crypto scene is booming".
"Given the inflow of institutional money and the upcoming wave of regulatory, one of the most promising areas will be the crypto and fintech interface," added the European director of Kraken Ventures.
What do you think that Kraken Ventures spends $ 65 million for his Fund I LP, which focuses on crypto companies and blockchain protocols in the early phase? Let us know your opinion on this topic in the comments below.
Bedy verification : Shutterstock, Pixabay, Wiki Commons