Kraken launches investment fund to support crypto startups

The Kraken platform is launching a new challenge with the creation of an investment fund. Kraken Ventures will help many startups to mount their projects in the field of decentralized finance (DeFi), cryptocurrencies and many others.

Kraken is preparing to invest in several projects

The Kraken exchange platform is embarking on a new adventure at the start of 2021. After Binance Labs and Coinbase Ventures, Kraken is aligning itself with its competitors with Kraken Ventures , an incubator which will aim to propel companies into a innovative technological sector .

The project is expected to extend to the whole world, but will focus mainly on the territory of North America and Europe.

This new independent investment fund will support a wide variety of sectors such as:

Brandon Gath, general partner of Kraken Ventures, said in an interview with Decrypt that their investment fund takes a long-term view. This vision would enable the companies supported to obtain real added value , from their creation. Kraken Ventures will be alongside the supported projects to bring them the help they need , whether financial, in the form of business opportunities or advice.

Companies supported by Kraken Ventures are expected to receive aid between $ 250,000 and $ 3 million, according to Brandon Gath. However, it is not excluded that the amount may be larger depending on the needs of the projects.

An already very active platform for the development of the industry

Increasingly popular, projects around cryptocurrency are flourishing across the world. The sector is at a real turning point in its history, notably thanks to decentralized finance, creating digital economies with global resonance .

“As we enter the next phase of growth for the cryptocurrency industry, Kraken Ventures will help entrepreneurs make the financial system more open, inclusive and transparent,” Jesse Powell, Kraken Co-Founder and CEO told Decrypt .

Kraken has already experienced an investment of $ 500,000 to support various projects related to the Bitcoin network. Last December, Kraken also invested the sum of 150,000 dollars for the development of several projects on the Ethereum network. This investment resulted from a collaboration between the exchange platform and the free software company „Gitcoin“.

According to Brandon Gath, Kraken Ventures already have several projects on the go and should unveil a few soon.