Kraken Ventures, an independent investment fund led by Kraken, has announced the successful closing of its first fund by raising $65 million.
What is Kraken Ventures?
Kraken Ventures invests in the underlying technologies of the crypto and fintech industry. It has already made several investments, including positions in Blockdaemon, Anchorage, Messari, Hashflow, Acala, and pStake. Kraken Ventures is headquartered in Austin, Texas, with a distributed team in New York and London. The fund targets initial investments of $500,000 to $2 million.
“Our long-term view on investing, and the possibility to leverage Kraken’s experience in building a truly global, scalable platform, definitely contributed to the overwhelming interest we received from investors. Our focus now is to put that money to work and help some of the most innovative projects and their exceptionally talented founders accelerate the development of their companies and protocols,” said Brandon Gath, Managing Partner of Kraken Ventures.
Kraken Ventures also said that it is expanding into Europe as part of its global expansion. The company announced the appointment of Laurens De Poorter as Head of Europe. Prior to joining Kraken Ventures, Laurens De Poorter was a Vice President at Dawn Capital in London, where he focused on early-stage investments in enterprise software and fintech companies.
“The European crypto scene is booming. Deal count doubled in the last two years and continues to accelerate,” said Laurens De Poorter. “With the influx of institutional money and impending regulation wave, one of the most promising areas will be the intersection of crypto and fintech. I couldn’t be more excited to join Kraken Ventures and look forward to working with the broader team to identify the most promising opportunities out there.”