Pantera Capital Aims To Raise $1.25B For Another Blockchain Fund
- Pantera Capital is reportedly planning to launch a second blockchain fund amid the ongoing winter season in the crypto industry and is set to raise around $1.25 billion.
- The founder of the company, Dan Morehead, revealed that the fund will invest in digital assets and equities, which would also include shares in companies Pantera already owns.
- Launched in June 2021, Pantera’s blockchain fund is an actively managed service that makes investments in a variety of venture equity, early-stage tokens, and liquid tokens.
Renowned crypto venture capital investment firm Pantera Capital is reportedly planning to launch a second blockchain fund amid the ongoing winter season in the crypto industry, which has sent crypto prices to severe lows in the past few months.
According to a recent report by Bloomberg, Pantera is seeking to raise $1.25 billion for the upcoming blockchain fund.
On Wednesday, during a conference in Singapore, the founder of the company, Dan Morehead revealed that the fund will invest in digital assets and equities, which would also include shares in company Pantera already owns.
“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,”Morehead stated.
Pantera, an institutional asset manager with a focus on the blockchain sector, now offers five funds: blockchain, venture, bitcoin, and early-stage and liquid tokens.
Launched in June 2021, Pantera’s blockchain fund is an actively managed service that makes investments in a variety of venture equity, early-stage tokens, and liquid tokens. It only accepts qualified buyers and requires a minimum commitment of $1 million.
Pantera officials stated in March that they had already received $1 billion in commitments for their first blockchain fund, despite their initial goal of raising $600 million, and that they would close the mechanism to new investors the following month. Partner at the firm Paul Veradittakit commented on the blockchain during the March investor call by stating:
“We’ll really be diving into consumer [use cases] a lot more, the intersection of traditional finance and DeFi and also things around the continued global institutionalization of the space.”
Veradittakit further added at the time that the company will also invest in NFT marketplaces, platforms, and developer tools and that the blockchain gaming industry would be “a huge sector for years to come.”
Pantera has disclosed investments in Revolving Games, Stacked, Pinata, Stride, and Unstoppable Domains over the past two months. However, the ongoing meltdown in the cryptocurrency market has placed the company in a tough position in recent months. The latest executive team exits at Pantera include Chief Financial Officer Ryan Davis leaving the company earlier this month. Moreover, before Davis, the chief technical officer Terence Schofield and the chief operating officer Samir Shah already left the company.
Since the devastating period of mid-June, the market capitalization of the cryptocurrency sector has hovered below the $1 trillion mark while the traditional markets are likewise in a state of uncertainty.