Brandon Gath, the managing partner of Kraken Ventures, recently went on to cite the extensive experience of the organization in having gone through hundreds of early-stage investments. This was mentioned by the MP in an email that the newly created fund would be focusing on early-stage founders, but would then support the venture throughout.
This, interestingly, marks the second fund from this company. The previous fund had managed to raise around $65 million, which was announced on the 17th of December 2021. The second fund’s aim of $100 million does represent a massive uptick, despite the venture market for both cryptocurrency and blockchain-related projects appearing to be in a state of decline.
Kraken Ventures Has Major Plans For Serving The Investors and Entrepreneurs
Gath also spoke about how Kraken Ventures believed that most of the smaller funds would better serve the investors and entrepreneurs, since the entrepreneur would be receiving a more hands-on partner, and the data overwhelmingly showed that most of the small funds ended up outperforming the large funds. This indicated that the fund could likely be issued to a bunch of projects rather than just a single investment. The email did, later, point out that a large portion of the fund could be dedicated to follow-up investments.
Kraken Ventures has already invested in close to 32 companies, with a vast majority of the investments being funding Serie A. Most recently, the group was an intricate part of the effort that managed to raise $15 million for fintech startup Rightfoot, which is about to build up a data portal for computer-permission data. Prior investments on the project have also included artificial intelligence companies, coupled with decentralized finance organizations, and multiple blockchain technology companies.