Pantera Capital Eyes Over $1B Raise for Comprehensive Blockchain-Centric Fund
Summary:
Pantera Capital, a digital asset investment manager, is planning to raise over $1 billion for their new fund, Pantera Fund V. This fund will offer investors access to a wide range of blockchain-based assets and requires a minimum $1 million contribution from eligible investors. The firm currently oversees $5.2 billion across its four existing funds. This move, along with reports of Venture Capital firm Paradigm aiming to raise up to $850 million for a new cryptocurrency fund, could indicate a renewed influx of institutional capital to the blockchain sector.
Pantera Capital, a prominent manager of digital asset investments, is set to gather over $1 billion for their new fund. This fund, Pantera Fund V, aims to grant investors access to a broad range of blockchain-centric assets. Unlike its previous funds, which were more targeted in terms of investment, this new fund serves as an all-encompassing investment portfolio. The fund requires eligible investors to contribute at least $1 million, with the first close slated for April 1, 2025. According to a Bloomberg report from April 25, limited partners will be obliged to offer a bare minimum of $25 million.
The assets to be incorporated in the Pantera Fund V include startup equity, early-stage tokens, and liquid tokens, as stated on Pantera's official website. Currently, Pantera manages $5.2 billion in assets over its four existing funds. Should it manage to raise $1 billion, it would mark the largest fund rising scene in the cryptocurrency domain since May 2022 when Andreessen Horowitz, a venture capital firm based in Silicon Valley, set a new record by raising $4.5 billion.
Another venture capital firm, Paradigm, is allegedly in talks to raise about $850 million for a novel cryptocurrency fund. With Pantera's plans, this move could indicate a return of institutional capital to the sector, especially after the market recovery seen in 2023.
Official representatives from Pantera were contacted for their input but did not provide any feedback at the time of reporting. In related news, Andreessen Horowitz recently confirmed that it successfully managed to secure $7.2 billion for investments in various tech-centric sectors like game finance and artificial intelligence. However, their cryptocurrency-focused fund experienced no extra capital inflow.
Pantera, meanwhile, has increased its investment stake on InfiniGods, a GameFi platform, having solely led its $8 million Series A round, hence the announcement from the firm on April 25.
Moreover, 2024 has witnessed an influx of over $3.5 billion into the cryptocurrency sector spread out over 604 funding cycles. As per RootData's tracking, if the present trend persists, funding for this year could effortlessly surpass last year’s $9.3 billion. However, even with the recent funding surge, these amounts still considerably lag the 2021 and 2022 funding benchmarks which stood at $31.2 billion and $29.3 billion respectively.
Published At
4/26/2024 7:58:30 AM
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