VanEck unveils $30M venture fund to fuel crypto and AI innovation

VanEck, an American investment management firm, announced the launch of a $30 million early-stage fund focused on fintech, crypto, and artificial intelligence. This fund will complement the firm’s corporate startups and mark its first foray into the venture ecosystem.

VanEck Ventures will focus on fintech, crypto, and artificial intelligence

VanEck will launch its first venture fund, VanEck Ventures, investing about $30 million in its development. According to the investment management firm, the new fund will focus on founders in fintech, crypto, and artificial intelligence.

In its social media post, the firm emphasized its commitment to the venture ecosystem: 

Trust has eroded as too many VCs chase short-term gains with unlocks. What’s missing? Real conviction, commitment, and accountability. Despite shaky sentiment and regulatory migraines, we’re not backing down. We believe this technology will reshape the financial system and beyond.

~VanEck

The new fund’s primary investment themes include tokenized assets, internet-native financial marketplaces, and next-generation payments based on stablecoins and tokenized capital markets. The fund will also complete about 25 to 35 investments, with 4 already made, though not yet disclosed.

 The Information report, however, reveals that approximately two-thirds of VanEck Ventures’ capital was sourced from external investors, while the remainder came from within the American investment management firm. The fund is also said to engage in equity investments and acquire stakes in companies in exchange for tokens associated with specific projects.

Wyatt Lonergan and Juan Lopez of Circle Ventures join VanEck Ventures

VanEck has recruited Wyatt Lonergan and Juan Lope of Circle Ventures to work for its new fund. Wyatt Lonergan, the former head of Circle Ventures, has already spoken on the new VanEck Ventures, stating his readiness and commitment to backing founders in stablecoin, block space, and AI. He also shared his thoughts on how the current developments in those sectors have helped reshape the internet.

Juan Lopez who previously directed corporate development at Circle also believes that the fund’s purpose to support founders will augment the development of the next blockchain utility. Together, Lonergan and Lopez bring valuable experience from overseeing over $50 million in investments in early-stage companies at Circle Ventures.