Kraken Ventures to raise $100M in second fund with focus on ‘early stage founders’


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Citing the group’s intensive expertise in having accomplished “a whole bunch of early stage investments,” Brandon Gath, managing associate for Kraken Ventures instructed Cointelegraph, in an e-mail, that the brand new fund would concentrate on early stage founders, however would provide help all through the enterprise:

“Kraken Ventures’ (KV) subsequent fund will double down on our present thesis and proceed to help founders by means of their full journey from preliminary capital to IPO.”

This marks the second fund from Kraken Ventures. Its earlier fund raised $65 million, in response to Crunchbase, and was introduced December 17, 2021. The second fund’s $100 million purpose represents a large uptick, even because the enterprise marketplace for blockchain and cryptocurrency-adjacent tasks seems to be in considerably of a decline.

Gath additionally talked about that Kraken Ventures believes that “smaller funds greatest serve entrepreneurs and buyers, because the entrepreneur will get a extra hands-on associate, and knowledge overwhelmingly reveals that small funds outperform giant funds,” indicating that the fund will probably be issued to quite a few tasks slightly than one or two large-sized investments.

The e-mail did, nevertheless, level out {that a} “good portion” of the fund can be devoted to follow-up investments.

Kraken Ventures has reportedly invested in at the least 32 corporations, with the vast majority of the investments being sequence A funding. Most just lately it was a part of an effort elevating $15 million for fintech startup Rightfoot, which is constructing a knowledge portal for computer-permissioned knowledge.

Prior investments have included synthetic intelligence corporations, decentralized finance organizations, and quite a few blockchain know-how corporations.

In accordance with Gath, although Kraken Ventures is an unbiased and fully-autonomous group, its mission aligns with cryptocurrency trade Kraken, “to create a extra open and clear monetary system by backing early-stage founders constructing blockchain-based merchandise with that shared objective.”

Kraken Ventures plans to lift $100 million for its second crypto ventures fund, in response to a spokesperson who confirmed the knowledge in an e-mail with Cointelegraph.