PANews reported on May 21 that according to Blockworks, asset management giant VanEck announced that it will launch the "PurposeBuilt" fund focusing on the Avalanche ecosystem next month. The fund is managed by the VanEck Digital Asset Alpha Fund team and will invest in liquidity tokens and venture capital projects in the fields of games, financial services, payments and AI. Pranav Kanade, portfolio manager of VanEck Digital Asset Alpha Fund, said that Avalanche was chosen because its L1 architecture allows developers to "have a complete technology stack", while C-Chain provides a product verification environment for early projects.
VanEck to launch Avalanche ecosystem-focused “PurposeBuilt” fund next month
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