<div class="sg-post-des">
  The organization will also reserve a “significant portion” of the fund for follow-on investments and long-term entrepreneurial support. 
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<div class="cointelegraph"> 
 <p>Citing the organization’s extensive experience in having completed “hundreds of <a rel="noopener noreferrer nofollow" title="early" href="https://thebittimes.com/tag/early.html">early</a> <a rel="noopener noreferrer nofollow" title="stage" href="https://thebittimes.com/tag/stage.html">stage</a> investments,” Brandon Gath, managing partner for Kraken Ventures told Cointelegraph, in an email, that the new fund would <a rel="noopener noreferrer nofollow" title="focus" href="https://thebittimes.com/tag/focus.html">focus</a> on <a rel="noopener noreferrer nofollow" title="early" href="https://thebittimes.com/tag/early.html">early</a> <a rel="noopener noreferrer nofollow" title="stage" href="https://thebittimes.com/tag/stage.html">stage</a> <a rel="noopener noreferrer nofollow" title="founders" href="https://thebittimes.com/tag/founders.html">founders</a>, but would offer support throughout the venture:</p> 
 <blockquote>
   “Kraken Ventures' (KV) next fund will double down on our existing thesis and continue to support founders through their full journey from initial capital to IPO.” 
 </blockquote> 
 <p>This marks the second fund from Kraken Ventures. Its previous fund raised $65 million, according to Crunchbase, and was announced December 17, 2021. The second fund’s $100 million aim represents a massive uptick, even as the venture market for blockchain and cryptocurrency-adjacent projects appears to be in somewhat of a decline. </p> 
 <p>Gath also mentioned that Kraken Ventures believes that “smaller funds best serve entrepreneurs and investors, as the entrepreneur gets a more hands-on partner, and data overwhelmingly shows that small funds outperform large funds,” indicating that the fund will likely be issued to numerous projects rather than one or two large-sized investments. </p> 
 <p>The email did, however, point out that a “significant portion” of the fund would be dedicated to follow-up investments.</p> 
 <blockquote class="twitter-tweet"> 
  <p lang="en" dir="ltr">#UnitedStates startup Rightfoot Raises $15M Series A Round from Bain Capital, Kraken Ventures, Renegade Partners, BoxGroup https://t.co/raC43BbBzW</p>— Parsers VC (@Parsers_vc) August 14, 2023 
 </blockquote> 
 <p>Kraken Ventures has reportedly invested in at least 32 companies, with the majority of the investments being series A funding. Most recently it was part of an effort raising $15 million for fintech startup Rightfoot, which is building a data portal for computer-permissioned data. </p> 
 <p>Prior investments have included artificial intelligence companies, decentralized finance organizations, and numerous blockchain technology companies. </p> 
 <p>According to Gath, though Kraken Ventures is an independent and fully-autonomous organization, its mission aligns with cryptocurrency exchange Kraken, “to create a more open and transparent financial system by backing <a rel="noopener noreferrer nofollow" title="early" href="https://thebittimes.com/tag/early.html">early</a>-<a rel="noopener noreferrer nofollow" title="stage" href="https://thebittimes.com/tag/stage.html">stage</a> <a rel="noopener noreferrer nofollow" title="founders" href="https://thebittimes.com/tag/founders.html">founders</a> building blockchain-based products with that shared goal.”</p> 
 <p>Kraken Ventures plans to raise $100 million for its second crypto ventures fund, according to a spokesperson who confirmed the information in an email with Cointelegraph.</p> 
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</div>

Kraken Ventures to raise $100M in second fund with focus on ‘early stage founders’

TheBitTimes

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