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

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According to Deep Tide TechFlow news on May 21, as reported by 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 asset Alpha fund, primarily investing in LP Tokens and venture-backed projects across various fields such as gaming, Financial Service, payments, and artificial intelligence.

Pranav Kanade, the portfolio manager of VanEck's digital asset Alpha fund, stated that the choice of Avalanche is due to its first-layer architecture, which allows developers to have full control over the tech stack, and its C-Chain provides an early team with a competitive 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.

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