VanEck’s new $30 million fund, VanEck Ventures, will invest in fintech, crypto, and AI firms developing next-generation payments.
VanEck, one of the U.S. issuers of spot Bitcoin exchange-traded funds (ETFs), has introduced a new initiative to support early-stage projects in the cryptocurrency and artificial intelligence sectors.
On October 9, VanEck announced the launch of VanEck Ventures, a $30 million fund dedicated to investing in fintech, crypto, and AI startups in their pre-seed and seed stages.
The fund will focus on key investment themes such as tokenized assets, internet-native financial marketplaces, stablecoin-based payment systems, and tokenized capital markets.
Circle Ventures’ Wyatt Lonergan and Juan Lopez to Lead VanEck’s $30 Million Fund
VanEck Ventures will be led by Wyatt Lonergan, the former head of Circle Ventures, and Juan Lopez, who previously oversaw Circle Ventures’ corporate development and ventures.
Circle Ventures, launched in late 2021, is the venture fund of Circle Internet Financial, the company behind USD Coin, the second-largest stablecoin by market capitalization.
At Circle Ventures, Lonergan and Lopez managed investments of over $50 million in early-stage firms, from infrastructure to consumer applications.
Lonergan emphasized the fund’s focus on stablecoin projects, stating that stablecoins are likely to become an “open-source banking layer.”
Lopez added, “Over the past few years, we’ve seen stablecoins enable seamless, large-scale value storage and transfer along with Linux-like composability.”
He also highlighted the exciting potential of on-chain utilities focused on programmability and compliance, which are coming to market as regulatory clarity grows.
VanEck Ventures Aims for 25-35 Investments
VanEck Ventures expects to make between 25 and 35 investments ranging from $500,000 to $1 million. The fund has already made four undisclosed investments.
According to The Information, around two-thirds of the fund’s capital comes from external investors, with the remainder provided internally by VanEck.
The fund plans to make equity investments and take stakes in companies in exchange for tokens linked to the projects.
VanEck’s CEO, Jan van Eck said, “From pioneering an approach to gold investing in 1968 to recognizing the disruptive potential of Bitcoin in 2017, embracing a long-term view on transformative opportunities has always been part of our investment philosophy.”
He added that the new fund extends this vision into early-stage ventures, aiming to support founders of what he sees as some of the most disruptive fintech companies building the future of finance.
