The American bitcoin exchange Kraken has launched a venture capital fund to invest in early-stage startups in the fields of cryptocurrencies, decentralised finance, blockchain, and fintech.
🚀 We’re supporting the launch of a new independent initiative to actively invest in early stage cryptocurrency & fintech startups. Read about Kraken Ventures on our blog. https://t.co/lClVRSoEln
— Kraken Exchange (@krakenfx) February 11, 2021
Kraken Ventures’ general partner Brendon Gat, in comments to The Block, noted that the fund would focus investments in North America and Europe.
According to him, a single startup would receive on average from $250 000 to $3 million, though the amount could be larger or smaller. Kraken Ventures plans to announce its capital in the coming months.
Together with Gat, the fund will be led by Kraken’s senior executives Kirill Gurov and Akshi Federici, with a fourth partner possibly joining them in the first half of 2021.
Coinbase’s venture arm has been active in investments for several years. Among Coinbase Ventures’ latest investments are: Terra stablecoin ecosystem, Vauld lending platform, and Titan, a software developer for mining.
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