VanEck plans to launch a Purpose-Built Fund focused on Avalanche

BlockBeats News, May 21st, according to a BlockWorks report, VanEck plans to launch the VanEck PurposeBuilt Fund next month, focusing on Avalanche. The goal is to establish a dedicated fund for projects built on Avalanche, to be managed by VanEck's Digital Asset Alpha Fund.

Portfolio Manager Pranav Kanade stated that top builders are increasingly looking to have full-stack assets to minimize value leakage, and Avalanche's L1 architecture makes this possible. The team currently has no plans to launch funds for any other ecosystems. The fund will invest in liquidity tokens and venture-backed projects, which may include various sectors such as gaming, financial services, payments, and artificial intelligence.