British analytics startup CryptoCompare has received strategic investments from MV Index Solutions (MVIS), the asset-management subsidiary of VanEck, reports The Block.
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Details of the deal are not disclosed. According to the publication, MVIS acquired a ‘significant stake’ in CryptoCompare.
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The startup has worked closely with the New York firm’s unit since 2017, when it launched the MVIS CryptoCompare Digital Assets 100 Index. The instrument tracks the performance of the 100 largest digital assets and serves as a benchmark for other crypto indices.
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“We are committed to partnering with leading firms in the digital assets and blockchain technology space and are pleased to deepen these relationships by investing when necessary,” said VanEck CEO Jan vanEck.
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According to The Block, the investment in CryptoCompare was agreed at the end of 2020, but the deal closed only in mid-June.
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As reported by the publication’s researchers, in 2021 the average size of venture investments in crypto companies rose by 120%.