VanEck is creating a new fund to invest in projects that combine cryptocurrency and artificial intelligence. The fund has an initial goal of $30 million. The fund plans to invest between $500,000 and $1 million in 25 to 35 projects.
VanEck, which manages $118 billion in assets, continues to grow by increasing its presence in the cryptocurrency sector. We have witnessed many companies launch crypto products; giants like BlackRock and Fidelity have issued ETFs. For example, BlackRock, which has $10 trillion, is investing in Ethereum, the largest smart contract platform. However, today our focus is on VanEck, who announced an altcoin fund.
VanEck, which has been operating in the finance sector since 1955, has quickly adapted to cryptocurrencies and developed a variety of products. The company is also entering the crypto venture capital space with the launch of VanEck Ventures. The term crypto VC refers to companies that support teams developing early-stage cryptocurrency protocols. These companies can make huge profits after the protocol tokens are issued.
Cryptocurrency and Artificial Intelligence Fund
VanEck’s latest move will see more capital flow into crypto. The fund, which has set an initial $30 million target, will be led by two former Circle Ventures executives, Wyatt Lonergan and Juan Lopez, and will invest in startups focused on crypto and artificial intelligence.
The fund will support tokenization and stablecoin platforms as well as projects in the early stages of development. VanEck Ventures Fund I aims to make 25 to 35 investments, each ranging from $500,000 to $1 million.
What is important for investors is that token prices may increase on the assumption that the projects supported by VanEck are meticulously examined and deemed reliable. VanEck’s investments not only provide additional confidence in the relevant projects, but can also contribute to the growth of these projects by attracting the interest of more companies.
Cryptocurrency projects have attracted attention, raising a total of $2.2 billion from investment firms in August alone. VanEck’s investment news can be followed in terms of discovering promising crypto protocols.
