Cryptocurrency exchange Kraken has launched a venture fund to invest in early-stage crpto and fintech startups.
The autonomous fund will look to make investments of between $250,000 and $3 million in firms working in fintech, crypto protocols and decentralised finance, as well as enabling technologies such as AI, machine and deep learning, and cybersecurity.
The team will be led by Brandon Gath, Kirill Gourov, and Akshi Federici – three veterans of the fintech and cryptocurrency industries and, most recently, senior execs at Kraken.
Says Gath: “We will take a hands-on approach with our portfolio companies to provide guidance, new commercial opportunities and additional capital support.”
Rival exchange Coinbase launched a venture fund to invest in early-stage crypto and blockchain startups back in 2018.