VanEck, an asset manager, plans to launch a private digital assets fund in June called the VanEck Purpose Built fund. Here are the details:
Targeted Projects: The fund will target tokenized Web3 projects built on the Avalanche blockchain network. It aims to invest in liquid tokens and venture – backed projects across various Web3 sectors, including gaming, financial services, payments, and artificial intelligence.
Management Team: The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21.
Deployment of Idle Capital: Idle capital will be deployed into Avalanche (AVAX) real – world asset (RWA) products, such as tokenized money market funds. Avalanche has emerged as a hub for RWAs and other institutional – oriented crypto projects, with around $1.5 billion in total value locked as of May 21.
Investor Eligibility: The VanEck Purpose Built fund is available only to accredited investors.
According to Pranav Kanade, the portfolio manager for DAAF, the next wave of value in crypto will come from real businesses, not more infrastructure. The Avalanche ecosystem offers solutions for builders across their entire lifecycle, and VanEck’s decision to focus on Avalanche is driven by the fact that the best builders want to own the full stack with minimal value leakage, and Avalanche’s L1 architecture enables this.
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