VanEck, an American investment management firm, has announced the launch of a $30 million early-stage fund named VanEck Ventures, targeting innovations in fintech, cryptocurrency, and artificial intelligence. This marks the firm's inaugural entry into the venture capital ecosystem, complementing its existing corporate startups.
The fund aims to support founders developing tokenized assets, internet-native financial marketplaces, and next-generation payment solutions utilizing stablecoins and tokenized capital markets. VanEck Ventures plans to make approximately 25 to 35 investments, with four already completed, although details remain undisclosed.
In a statement shared on social media, VanEck emphasized its commitment to long-term investment strategies amid a landscape where trust has diminished due to short-term gain pursuits by many venture capitalists. The firm believes that the technologies it is backing will fundamentally reshape the financial system and beyond.
Notably, two-thirds of the fund's capital has been sourced from external investors, with the remaining funds coming from within VanEck itself. The fund will also engage in equity investments and acquire stakes in companies in exchange for tokens linked to specific projects.
To lead the new venture, VanEck has brought on board Wyatt Lonergan and Juan Lopez from Circle Ventures. Lonergan, previously head of Circle Ventures, expressed his commitment to supporting founders in stablecoin, blockchain, and AI sectors, while Lopez, who directed corporate development at Circle, echoed the fund's goal of fostering the next generation of blockchain utilities. Together, they bring extensive experience, having overseen over $50 million in early-stage investments at Circle Ventures.