Key Takeaways
- VanEck is launching the PurposeBuilt Fund on Avalanche in June 2025.
- The fund will back accredited investors building Web3 projects focused on long-term utility.
- It aims to move beyond hype and support real-world innovation across DeFi, AI, gaming, and tokenized assets.
VanEck, a global asset manager overseeing over $116 billion in assets, is doubling down on Web3.
In June, the firm will launch the PurposeBuilt Fund, a new investment vehicle focused on supporting practical, real-world applications of blockchain technology.
The fund will operate exclusively on the Avalanche blockchain and is designed for accredited investors building across emerging sectors like Web3 gaming, decentralized finance (DeFi), artificial intelligence (AI), and real-world asset (RWA) tokenization.
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A New Kind of Web3 Fund
The PurposeBuilt Fund marks a strategic shift for VanEck, following its successful crypto ETF ventures.
Unlike many Web3 investment plays, this fund isn’t chasing hype.
Instead, it’s focused on backing projects prioritizing long-term value and real-world utility, not speculation or short-term trends like memecoins.
Managed by the same team behind VanEck’s $100 million Digital Assets Alpha Fund (DAAF), PurposeBuilt will invest directly in startups that use Avalanche’s technology stack to deliver meaningful services in sectors such as:
- Gaming
- Financial services
- Payments
- AI
- DeFi
- RWA
Pranav Kanade, portfolio manager for DAAF, noted that the fund won’t chase hype or short-term trends, as the next wave of value in “crypto will come from real businesses, not more infrastructure.”
Why Avalanche?
Avalanche (AVAX) has emerged as a hub for serious Web3 development, especially in the fast-growing RWA space.
With a $50 billion ecosystem and a strong emphasis on speed, scalability, and modular design, Avalanche continues to attract teams building enterprise-grade applications.
According to Kanade, Avalanche’s developer ecosystem was a key reason VanEck chose it as the foundation for the fund.
“Avalanche has become a magnet for thoughtful builders,” he said. “With the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to founders who are creating lasting value.”
John Nahas, Chief Business Officer at Ava Labs, welcomed the move as a milestone for the network:
“This marks a shift toward real utility and sustainable token economies. It reinforces Avalanche as a home for serious founders who are scaling real businesses and driving meaningful on-chain adoption.”
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