In a move signaling deep institutional conviction in the future of on-chain economies, global asset management giant VanEck has announced the launch of its new digital assets fund — PurposeBuilt — aimed squarely at founders building real-world applications on Avalanche.
Expected to launch in June 2025, the VanEck PurposeBuilt Fund will focus on scalable blockchain-based businesses that emphasize long-term token utility and value, rather than speculative hype.
The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF)—a top-performing liquid token fund with over $100 million AUM — bringing their proven fundamentals-first strategy to Avalanche’s fast-growing ecosystem.
“The next wave of value in crypto will come from real businesses, not more infrastructure,” said Pranav Kanade, Portfolio Manager at VanEck. “Avalanche has become a magnet for thoughtful builders, and with the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to the founders creating lasting value, not chasing momentum.”
VanEck, with over $116 billion in assets under management, has long been recognized for identifying frontier opportunities. With PurposeBuilt, the firm is turning its attention to entrepreneurs building token-powered businesses in industries like gaming, AI, DeFi, payments, and financial services, all on Avalanche.
The fund will typically invest around or after a Token Generation Event (TGE), backing a mix of liquid tokens and early-stage ventures. Unused capital won’t sit idle — instead, it will be deployed on-chain via Avalanche-native real-world asset (RWA) products, including tokenized money market funds, reinforcing the on-chain economy while maintaining capital efficiency.
This launch underscores a growing shift in crypto investment philosophy. While the broader market often rewards hype, PurposeBuilt is designed to support “mission-driven founders” building products with real-world impact.
“Too often, founders building legitimate businesses get lost in a market dominated by hype cycles,” the firm noted. “PurposeBuilt is designed to change that.”
“Avalanche continues to attract teams creating real-world applications,” said John Nahas, Chief Business Officer at Ava Labs. “We’re seeing a shift away from speculative hype toward real utility and sustainable token economies.
The VanEck PurposeBuilt Fund aims to bring the kind of long-term capital and strategic conviction that builders need to lead that shift.”
The fund is available only to qualified purchasers, and detailed information is included in its Private Placement Memorandum. As VanEck makes this bold bet on “GDP onchain,” one thing is clear — real-world use cases on Avalanche now have heavyweight financial backing and long-term vision behind them.
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