VanEck plans to launch the PurposeBuilt fund focused on the Avalanche ecosystem

ChainCatcher news, according to Blockworks, cryptocurrency investment firm VanEck plans to launch the VanEck PurposeBuilt fund focused on the Avalanche ecosystem next month. The fund will be managed by the VanEck Digital Assets Alpha fund, primarily investing in liquidity tokens and venture-backed projects across various sectors including gaming, financial services, payments, and artificial intelligence.

Pranav Kanade, portfolio manager of the VanEck Digital Assets Alpha fund, stated that the choice of Avalanche is due to its first-layer architecture allowing developers complete control over the tech stack, and its C-Chain providing early teams with a competitively high-throughput Ethereum Virtual Machine environment. The fund will adopt a fundamentals-driven long-term investment strategy, primarily investing around token generation events. Unused funds will be deployed on-chain through real-world asset products on Avalanche.