Kraken Ventures, an independent investment fund focused on early-stage companies and agreements led by Kraken alumni, announced the successful closure of its first fund with a financing amount of US$65 million. Currently, the fund holds positions on platforms such as Hashflow, Pstake, Acala, Blockdaemon, Anchorage, and Messari.

Kraken Ventures announced the $65 million fund I LP

There is a large amount of funds used to provide liquidity for early cryptocurrency companies and blockchain protocols. If software startups develop concepts involving game finance (gamefi), game earning (P2E) protocols, decentralized finance (defi), non-fungible tokens (NFT), and other types of cryptocurrencies, there will be a lot of funds available Choice and blockchain solutions.

For example, Binance Smart Chain and Animoca Brands recently launched a $200 million Crypto Game Incubation Fund, and Recent Web3 Fund Sponsored by Solana Ventures, Forte and Griffin Gaming. In mid-November, Kucoin Labs roll out A $100 million Yuan Festival Fund, in the same week, Paradigm disclose 2.5 billion USD venture fund.

On Friday, Brandon Gath, managing partner of Kraken Ventures, announced the launch of the $65 million “Kraken Ventures Fund I LP”. The fund will seek initial investments in early-stage companies and agreements, starting at $500,000 and up to $2 million.

The organization stated that Fund I LP will power the “next wave of cryptocurrency and financial technology innovation.”Specifically, Kraken Ventures mentioned consumer encryption protocols, artificial intelligence (AI), machine learning, financial infrastructure, Web3 and Decentralized finance (definition).

“We are very happy to be able to successfully close our first fund,” Gath said in a statement. “Our long-term view of investment, and the possibility of leveraging Kraken’s experience in building a truly global, scalable platform, undoubtedly contributed to the overwhelming interest we received from investors.” Kraken Ventures executives added:

Our focus now is to put this money into work and help some of the most innovative projects and their talented founders accelerate the development of their companies and agreements.

Kraken Ventures also revealed that it has appointed Laurens De Poorter as the European head of the fund. The new European leader is part of Kraken Ventures’ global expansion, and DePulter said that “the European crypto sector is booming.”

“With the influx of institutional funds and the upcoming wave of regulation, one of the most promising areas will be the intersection of cryptocurrency and financial technology,” added the head of Kraken Ventures Europe.

What do you think of Kraken Ventures’ raising $65 million for Fund I LP dedicated to early-stage crypto companies and blockchain protocols? Please tell us your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the head of news at Bitcoin.com News and a fintech reporter living in Florida. Since 2011, Redman has been an active member of the cryptocurrency community. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 4,900 articles about destructive protocols emerging today for Bitcoin.com News.