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New Kraken Venture Fund to Target Early-Stage Crypto, Tech Startups
Kraken Ventures will operate autonomously, with financial backing from the exchange.
Kraken, the fourth-largest cryptocurrency exchange by trading volume, has announced the launch of a new venture fund that will invest in early-stage cryptocurrency and tech startups.
- According to a Thursday announcement, Kraken Ventures will be led by former head of corporate development at Kraken, Brandon Gath, and will operate as an independent fund.
- However, Kraken, the exchange, will provide financial backing, as well as guidance and expertise.
- Startups selected by Kraken Ventures will receive investments ranging from $250,000 to $3 million, Kraken told CoinDesk.
- Specifically, the fund will focus on areas including fintech, crypto companies, protocols, DeFi, artificial intelligence, machine and deep learning, regulatory technology and cybersecurity.
- “As we enter the crypto industry’s next growth phase, Kraken Ventures will support entrepreneurs in making the financial system more open, inclusive, and transparent,” said Jesse Powell, co-founder, and CEO of Kraken.
Read more: Kraken Exchange Brings Its Spot Price Data to DeFi Via New Chainlink Node
STORY CONTINUES BELOW
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Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
