Kraken Ventures, an independent investment fund led by Kraken alumni and focused on early-stage crypto companies and protocols, has announced the close of its first fund, Kraken Ventures Fund I LP, at $65 million. The fund already holds positions in projects and companies including Hashflow, Pstake, Acala, Blockdaemon, Anchorage, and Messari, reflecting exposure across trading infrastructure, staking, blockchain services, custody, and crypto research.
The launch comes amid a broader wave of capital flowing into venture vehicles targeting early-stage blockchain, crypto, and Web3 builders. Recent examples cited in the market include a $200 million crypto gaming incubation fund from Binance Smart Chain and Animoca Brands, a Web3-focused fund launched by Solana Ventures, Forte, and Griffin Gaming, a $100 million metaverse fund from Kucoin Labs, and Paradigm’s much larger $2.5 billion venture fund.
Targeting early checks across crypto and fintech
According to managing partner Brandon Gath, Kraken Ventures Fund I LP will make initial investments in early-stage companies and protocols, with first checks ranging from $500,000 to $2 million. The fund said it aims to support the “next wave of crypto and fintech innovation,” with areas of interest including consumer crypto protocols, artificial intelligence, machine learning, financial infrastructure, Web3, and decentralized finance.
Gath said the successful close reflected investor interest in the firm’s long-term investment approach and its ability to draw on Kraken’s experience building a global and scalable platform. He added that the immediate priority is to deploy capital into highly innovative teams and founders and help accelerate the development of their companies and protocols.
European expansion joins the strategy
Kraken Ventures also said it has appointed Laurens De Poorter as head of Europe as part of its global expansion. De Poorter said the European crypto scene is booming and argued that, with increasing institutional capital and an approaching wave of regulation, one of the most promising opportunities will be at the intersection of crypto and fintech.
Overall, the fund’s first close underscores sustained investor appetite for early-stage blockchain exposure and highlights continued interest in Web3, DeFi, and digital financial infrastructure as core venture themes.