VanEck, a leading global asset manager, is preparing to launch the PurposeBuilt Fund, focused on supporting projects on the Avalanche blockchain.
PurposeBuilt Fund's Goals and Strategy
The PurposeBuilt Fund is set to launch in June 2025 and aims to invest in companies issuing tokens with real-world use cases on the Avalanche platform. Unlike many crypto funds that seek short-term gains, this fund focuses on long-term investments in entrepreneurs creating sustainable value through blockchain technology.
Fund Management Team
The management team for the PurposeBuilt Fund will consist of members from the VanEck Digital Assets Alpha Fund, which has established a reputation in the market with over $100 million in assets under management. This new fund builds on that successful track record, focusing exclusively on the Avalanche ecosystem.
Supporting Entrepreneurs and Long-term Goals
The PurposeBuilt Fund aims to provide financial backing for founders building real businesses rather than speculative projects. According to Pranav Kanade, portfolio manager at VanEck Digital Assets, the fund offers an alternative capital source for developing projects focused on utility and long-term sustainability.
The launch of the PurposeBuilt Fund highlights the market's shift toward more serious and sustainable projects in the blockchain industry, supporting founders striving to create real value.
