Pantera Capital Reportedly Eyeing New $1.25B Blockchain Fund
The asset manager’s first blockchain fund had $1 billion in commitments, as of March
Pantera CEO Dan Morehead | Source: TechCrunch/"775040520SB00165_TechCrunch" (CC license)
key takeaways
- Pantera Capital launched its first blockchain fund in June 2021
- The new fund will reportedly invest in equity, as well as digital tokens
Pantera Capital is reportedly seeking to launch a second blockchain fund, despite the ongoing bear market that has sent crypto prices spiraling in recent months.
An institutional asset manager focused on the blockchain industry, Pantera currently offers five funds: venture, bitcoin, early-stage token, liquid-token and blockchain funds.
Pantera’s blockchain fund, which launched in June 2021, is an actively managed offering that invests in a combination of venture equity, early-stage tokens and liquid tokens. It is for qualified purchasers only and has a minimum investment of $1 million.
Now, Pantera founder Dan Morehead said Wednesday at a conference in Singapore that the company is planning to raise $1.25 billion for a second blockchain fund, Bloomberg reported. The fund, which Morehead said Pantera aims to close in May, would invest in equity and digital tokens, he said.
A Pantera spokesperson did not immediately return a request for comment.
Though originally seeking to raise $600 million for its first blockchain fund, Pantera executives said in March that it so far had $1 billion in commitments and would close the vehicle to new investors the following month.
“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,” Pantera partner Paul Veradittakit said during a March investor call.
Veradittakit added at the time that the blockchain gaming sector would be “a huge sector for years to come,” and that the company would also be investing in NFT marketplaces, platforms and developer tools.
Over the last two months, Pantera has revealed investments in Revolving Games, Stacked, Pinata, Stride and Unstoppable Domains. Pantera led the latter company’s $65 million Series A round in July.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- 0xResearch: Alpha directly in your inbox.
- Lightspeed: All things Solana.
- The Drop: Apps, games, memes and more.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
