VanEck unveils $30 million fund for crypto and AI startups

• VanEck says the new $30 million fund targets startups in crypto, artificial intelligence and fintech.
• The fund will invest in 25-35 early stage companies with both strategic and financial upside.

Global investment manager VanEck has announced a major fund aimed at supporting growth across crypto, artificial intelligence and fintech.

VanEck Ventures is a $30 million fund unveiled on Oct. 9, and will target early-stage projects. According to VanEck, the fund is aimed at founders at the intersection of digital assets, AI and financial technology.

Fund targets 25-35 investments

Wyatt Lonergan and Juan Lopez will lead VanEck’s new fund. Lonergan and Lopez, now general partners at VanEck Ventures, oversaw the investment of Circle’s $50 million early-stage fund. Circle invested in layer-1 blockchain Sei in November 2023.

The two will have support from VanEck’s global workforce and senior leadership as they lead the investment. Wyatt commented on the fund’s launch on X.

Meet Wyatt, General Partner at VanEck Ventures https://t.co/RmsMaGyD4y

— VanEck (@vaneck_us) October 9, 2024

Jan van Eck, the chief executive officer of VanEck, also commented on what VanEck Ventures means for the company and the industry.

“From pioneering an approach to gold investing in 1968 to recognizing the disruptive potential of Bitcoin in 2017, embracing a longterm view on transformative opportunities has always been part of our investment philosophy. This fund extends that vision into the early-stage venture space,” van Eck said.

VanEck eyes 25 to 35 investments into projects across various segments, including tokenized assets, payment solutions on stablecoins and web3 financial marketplaces.

The fund’s check sizes will range from $500,000 to $1 million. However, focus will be on startups with both strategic and financial upside. VanEck Ventures’ new fund has already invested in 4 such companies, although it’s yet to make these public.