Hassan Maishera
On Wednesday, the Avalanche Foundation announced via X that VanEck is launching Purposebuilt, a dedicated fund to back real-world applications on Avalanche. VanEck is one of the world’s leading asset managers, with over $116B in assets under management.
Purposebuilt will be managed by the team behind VanEck’s Digital Asset Alpha Fund (DAAF), one of the top-performing liquid token funds in the market, with over $100M AUM.
The Fund will invest in liquid tokens and venture-backed projects, spanning gaming, financial services, payments, and AI industries. They will invest typically around or after a Token Generation Event, with a fundamentals-first strategy focused on long-term outcomes. Idle capital will be deployed onchain through Avalanche-native real-world asset (RWA) products, including tokenized money market funds, to maintain liquidity while reinforcing the broader onchain economy.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 4.5% today and currently trades at $23.49 per coin.
