Citing the organization’s extensive experience in having completed “hundreds of early stage investments,” Brandon Gath, managing partner for Kraken Ventures, told Cointelegraph in an email that the new fund would focus on early stage founders but would offer support throughout the venture:
This marks the second fund from Kraken Ventures. Its previous fund raised $65 million, according to Crunchbase, and was announced Dec. 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.