Kraken Ventures, the investment arm of a prominent global cryptocurrency exchange, is poised to make a significant impact in the world of crypto startups with its ambitious plan to raise a $100 million fund.
This substantial fund marks Kraken Ventures’ second major investment effort, coming on the heels of its successful $65 million fund raised just two years ago in December 2021.
The focus of this new fund is firmly set on nurturing early-stage founders, with a unique approach that goes beyond traditional one-time investments.
Brandon Gath, the managing partner of Kraken Ventures, emphasized that their support is a continuous journey, extending from the initial capital injection to eventual stages like IPOs. Gath explained:
“Kraken Ventures’ (KV) next fund will double down on our existing thesis and continue to support founders through their full journey from initial capital to IPO.”
Kraken Ventures is no stranger to the early-stage investment landscape, having participated in a multitude of early-stage investments, numbering in the hundreds.
The launch of this new fund, however, signifies a significant leap forward, especially considering the prevailing market conditions, where the blockchain and crypto-based venture market has been undergoing a notable ebb.
Dedicated to Empowering Startups Kraken Ventures is unwavering in its commitment to empower startups, operating under the belief that smaller funds offer the best avenue to serve and support entrepreneurs.
The approach is bolstered by compelling data that showcases the outperformance of small funds in comparison to their larger counterparts.
Consequently, Kraken Ventures is poised to allocate its funds across numerous projects, prioritizing a broader reach and impact rather than focusing solely on a few sizable investments.
With an impressive track record, Kraken Ventures has already extended its support to an array of projects. To date, it has funded over 32 companies, primarily channeling investments into Series A funding rounds.
It’s worth noting that Kraken Ventures’ investment portfolio extends beyond the realm of blockchain and crypto projects. In addition to crypto-focused endeavors, Kraken Ventures also invests in fintech startups.
This diverse approach was exemplified when Kraken Ventures played a pivotal role in facilitating a $15 million funding round for the fintech startup Rightfoot.
