Kraken wants to take risks – The Kraken exchange announced last weekend the launch of an investment fund dedicated to crypto projects. Called « Kraken Ventures », this project will be present in Europe, the United States and China to unearth the next nuggets in the cryptosphere.
Kraken goes private equity
Kraken’s investment fund will be led by Brandon Gath, Kirill Gourov and Akshi Federici, 3 financial veterans who have recently been involved in the exchange. Kraken Ventures will focus on innovative companies, working on fintech, DeFi or artificial intelligence projects. The fund will invest mainly in Europe and North America, for tickets ranging from $250,000 to $3 million.
Concerning the team, Gath has been in the financial services sector for more than 20 years and was Investment Director for several funds before joining Kraken. Gourov was a wealth manager before becoming head of Strategic Investments at Kraken. Federici worked at BlackRock and ConsenSys before joining our exchange team.
« As we enter the next phase of growth in the crypto industry, Kraken Ventures will help entrepreneurs make the financial system more open, inclusive and transparent. With a strong team in place, Kraken Ventures offers the ideal combination of resources to bring the best ideas to their full potential. »
Kraken Ventures has already scheduled several investments and plans to announce them over the next 2 months. Kraken’s rivals, Coinbase and Binance, both have venture capital subsidiaries, Coinbase Ventures and Binance Labs. With this launch, Kraken is positioning itself as one of the major players in the growth of the crypto ecosystem.