Kraken Ventures to raise $100M in second fund prioritizing early-stage founders

Kraken Ventures, an experienced player in early-stage investments, is gearing up to launch its second fund with a targeted goal of raising $100 million. Building upon its extensive experience with hundreds of early-stage investments, the firm’s latest fund will be dedicated to supporting burgeoning entrepreneurs from their initial capital stages through potential IPOs.

Notably, Kraken Ventures’ upcoming fund follows the success of its previous endeavor, which amassed $65 million and was introduced in December 2021. The substantial increase in the targeted amount to $100 million for the new fund underscores the organization’s commitment to fostering innovation within the blockchain and cryptocurrency-related landscape.

Brandon Gath, Managing Partner for Kraken Ventures, emphasized the belief that smaller funds provide optimal support for both entrepreneurs and investors. According to Gath, smaller funds tend to offer a more hands-on partnership, a philosophy that aligns with the venture’s approach to nurturing a multitude of projects, rather than concentrating resources on a few large investments.

While Kraken Ventures is an independent entity, it shares a mission with the Kraken cryptocurrency exchange, which centers around creating a more transparent and open financial system through blockchain-based products. The venture’s focus remains firmly on early-stage founders who share this vision.

Kraken Ventures has already shown its commitment to the ecosystem, having invested in approximately 32 companies, primarily at the Series A funding stage. These investments have spanned various domains, including artificial intelligence, decentralized finance, and diverse blockchain technologies. Notably, the fund recently participated in raising $15 million for Rightfoot, a fintech startup dedicated to constructing a data portal for computer-permissioned data.

As the cryptocurrency venture market experiences fluctuations, Kraken Ventures’ proactive stance towards supporting early-stage innovators underlines its dedication to driving growth and innovation within the blockchain and cryptocurrency sectors.