Ethereum News

New Kraken Venture Fund to Target Early-Stage Crypto, Tech Startups

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

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