Catenaa, Saturday, May 31, 2025-Asset manager VanEck announced the launch of the Purposebuilt Fund, a private digital assets fund dedicated to supporting Avalanche-based businesses developing real-world applications.
The fund is set to launch June 10 and will invest in tokenized money market funds and other Avalanche-native real-world assets.
VanEck aims to provide capital to liquid tokens, venture-backed startups, and scalable projects across industries like finance, payments, gaming, and artificial intelligence.
The fund’s investments will target companies launching tokens with long-term utility, often near or after their Token Generation Events.
The firm’s move reflects its belief in the “GDP onchain” thesis — that blockchain technology will become integral to global economic and financial systems.
VanEck seeks to back projects contributing to durable onchain economic activity rather than speculative tokens.
Pranav Kanade, portfolio manager of VanEck’s Digital Asset Alpha Fund, emphasized the importance of real businesses driving the next wave of crypto value.
John Nahas, Ava Labs chief business officer, called Purposebuilt a pivotal moment for Avalanche, reinforcing it as a platform for serious founders focused on sustainable token economies.
The fund will invest in digital assets with market caps above $100 million and may use staking, yield farming, and investments in centralized and decentralized platforms. VanEck manages $116.6 billion in assets and recently filed for Avalanche and Binance ETF launches.
AVAX, Avalanche’s native token, has seen a 10% gain over the past month despite a yearlong 44% decline from its November 2021 peak.
