Kraken Ventures to raise $100M in second fund with focus on ‘early stage founders’
The organization will also reserve a “significant portion” of the fund for follow-on investments and long-term entrepreneurial support. Citing the organization’s extensive experience in having completed “hundreds of early stage investments,” Brandon Gath, managing partner for Kraken Ventures told Cointelegraph, in an email, that the new fund would focus on early stage founders , but would offer support throughout the venture: “Kraken Ventures' (KV) next fund will double down on our existing thesis and continue to support founders through their full journey from initial capital to IPO.” This marks the second fund from Kraken Ventures. Its previous fund raised $65 million, according to Crunchbase, and was announced December 17, 2021. The second fund’s $100 million aim represents a massive uptick, even as the venture market for blockchain and cryptocurrency-adjacent projects appears to be in somewhat of a decline. Gath also mentioned that Kraken Ventures believes that “smaller ...