The firm's second fund ups the ante significantly after its first raised $65 million.
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:
“Kraken Ventures' next fund will double down on our existing thesis and continue to support founders through their full journey from initial capital to IPO.”$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.
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.
The email did, however, point out that a “significant portion” of the fund would be dedicated to follow-up investments.
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