Key Points:
- Brandon Gath of Kraken Ventures asserts a rebound in cryptocurrency and Web3 startup valuations after recent declines.
- Kraken Ventures plans to raise $100 million for its second fund, which will focus 80% on equity and 20% on tokens.
Brandon Gath, managing director of Kraken Ventures, one of the largest enterprise cryptocurrency and blockchain venture capital firms, has pegged a market rebound from its previous dives.
According to Global Corporate Venturing, funding and valuations for cryptocurrency and Web3 startups have soured significantly over the past 18 months. However, Gath believes that the market has already turned around.
Of Kraken Ventures’ investment portfolio, approximately 80% is equity, and the remainder is tokens. Gath confirmed that fundraising for its second fund is underway. He would not disclose the financial details of the target, although it is being reported as $100 million. Following months of preparation, its second fund is expected to launch officially in the second half of this year.
Details of Kraken Ventures’ $100M Second Fund Emerges Amidst Investor Interest
The new fund’s limited partners mirror almost those of its predecessor and include large asset management houses, family offices, venture capital firms, and trading companies. What’s more, it will have representatives at the very top level within the Web3 ecosystem, underpinning how Kraken Ventures strategically positions itself against nascent areas of innovation within blockchain and decentralized technologies.
Gath boasts of the company’s commitment to helping ventures with the largest potential. The new fund will ride on the optimism rebounding in markets, while strategic partnerships will be key to driving growth and innovation. With the launch date getting closer, Kraken Ventures—stakeholders within the cryptocurrency community and beyond—are waiting keenly to see what it has in store for blockchain-based entrepreneurship.
