VanEck, one of the issuers of spot Bitcoin exchange-traded funds (ETFs) in the U.S., has launched a new initiative to support early-stage cryptocurrency and artificial intelligence projects.
On October 9, the company announced the creation of VanEck Ventures, a $30 million fund dedicated to investing in fintech, crypto, and AI startups at the pre-seed and seed stages.
Among VanEck Ventures’ core investment themes are tokenized assets, internet-native financial marketplaces, and payments using stablecoins and tokenized capital markets.
The new fund is led by Wyatt Lonergan and Juan Lopez, both previously with Circle Ventures, the venture arm of Circle Internet Financial, which operates USD Coin (USDC), the second-largest stablecoin by market capitalization.
During their time at Circle Ventures, Lonergan and Lopez invested over $50 million in early-stage companies focused on areas such as infrastructure and consumer applications.
Lonergan emphasized the importance of stablecoin projects, predicting that stablecoins will evolve into 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 noted that now is an exciting time to build as regulatory clarity grows around on-chain utilities focused on programmability and compliance.
VanEck Ventures plans to make 25 to 35 investments, with individual investments ranging from $500,000 to $1 million.
The fund has already made four investments, which have yet to be announced.
According to The Information, two-thirds of VanEck Ventures’ capital comes from external investors, while the rest is from VanEck itself. The fund will make both equity investments and acquire stakes in companies in exchange for project tokens.
VanEck 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 aims to support some of the most innovative companies in fintech, helping to shape the future of finance.
