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Kraken Ventures Sets Sights on New Funding Goal Amid Rising Blockchain Interest

Kraken Ventures targets $100 million for its second fund, focusing on small-scale blockchain and fintech investments.

Thu, 17 Aug 2023, 05:56 am UTC

While Kraken Ventures, a renowned investment entity, gears up for a new funding round, there's more to the story than just numbers. With a rich history of spearheading early-stage investments, Brandon Gath, the firm's lead partner, confirmed via email their intent to lend a hand to start-up founders from their inception to the stock market introduction.

Making its mark with a prior fund that accumulated $65 million as reported by Crunchbase, Kraken Ventures is now targeting a groundbreaking $100 million for its second round. Interestingly, this surge in the target comes at a time when the investment landscape for projects associated with blockchain and cryptocurrency shows signs of waning.

Gath’s insights shed light on Kraken Ventures’ vision, which tends to lean towards the empowerment of small-scale investments. He shared their belief that by focusing on smaller financial pools, both the investor and the entrepreneur reap more benefits. In particular, entrepreneurs find themselves partnered with stakeholders who are actively involved, reflecting the data that consistently shows smaller funds performing notably better than their larger counterparts.

Yet, the approach isn’t linear. Kraken Ventures also plans to reserve a notable chunk of their fund for revisiting and boosting their existing investments. With an impressive portfolio of supporting at least 32 different companies, predominantly in the Series A funding phase, their recent ventures include a remarkable collaboration. The investment entity took part in a campaign to secure $15 million for the fintech trailsetter, Rightfoot, a firm on a mission to construct a state-of-the-art data portal suited for computer access.

Over time, Kraken Ventures’ varied investments span sectors like artificial intelligence, innovative decentralized finance setups, and a plethora of firms diving deep into blockchain technology.

Although operating as a standalone entity, Gath reiterated that Kraken Ventures resonates with the core philosophy of the cryptocurrency exchange, Kraken. Both aim to revolutionize the financial framework, advocating for transparency and openness, especially when it involves blockchain-centric innovations.

TokenPost | [email protected]

TokenPost | [email protected]

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