Kraken, a U.S.-based digital asset exchange, announced on Thursday it is backing the newly launched Kraken Ventures, an independent investment fund targeting early stage companies and protocols across the crypto and fintech ecosystem. According to Kraken, the fund will invest in the technologies powering the next wave of crypto and fintech innovation and provide entrepreneurs with the financial resources and industry expertise needed to build and scale their business.
“Kraken Ventures will focus on areas including fintech, crypto companies & protocols, decentralized finance (DeFi) as well as enabling technologies such as AI, Machine and Deep Learning, Reg Tech, and cybersecurity. Kraken Ventures offers the best of both worlds in being a completely autonomous fund that’s backed by the resources and expertise of Kraken.”
While sharing more details about the investment fund, Jesse Powell, Co-Founder and CEO of Kraken, stated:
“As we enter the crypto industry’s next growth phase, Kraken Ventures will support entrepreneurs in making the financial system more open, inclusive, and transparent. With a strong team in place, Kraken Ventures offers the right combination of resources to bring the best ideas to their full potential. We’ve arrived at the point where crypto is starting to show its true potential, transforming the financial services industry and creating truly global, digital economies.”
Kraken went on to add that Kraken Ventures will be led by Brandon Gath, who has 20 years of experience in the financial services and crypto industries. He most recently served as the Head of Corporate Development at Kraken and prior to joining Kraken helped lead CME Ventures, where he was an early investor in numerous unicorn startups across fintech, AI, Deep Learning, Quantum Computing and Crypto.
