Despite the ongoing bear market that has sent crypto prices spiraling in recent months, Pantera Capital is reportedly looking to launch a second blockchain fund.
Pantera, a blockchain-focused institutional asset manager, currently offers five funds: venture, bitcoin, early-stage token, liquid-token, and blockchain funds.
Pantera’s blockchain fund, which is set to launch in June 2021, is an actively managed offering that invests in venture equity, early-stage tokens, and liquid tokens. It is only available to qualified buyers and requires a minimum investment of $1 million.
Pantera founder Dan Morehead announced Wednesday at a conference in Singapore that the company plans to raise $1.25 billion for a second blockchain fund, according to Bloomberg. Pantera plans to close the fund in May, according to Morehead, and will invest in equity and digital tokens.
The blockchain fund
Pantera founder Dan Morehead announced Wednesday at a conference in Singapore that the company plans to raise $1.25 billion for a second blockchain fund, according to Bloomberg. Pantera plans to close the fund in May, according to Morehead, and will invest in equity and digital tokens.
A request for comment from Pantera was not immediately returned.
Despite initially aiming to raise $600 million for its first blockchain fund, Pantera executives announced in March that the vehicle had received $1 billion in commitments and would close to new investors the following month.
During a March investor call, Pantera partner Paul Veradittakit said:
“We’ll really be diving into consumer [use cases], the intersection of traditional finance and DeFi, and also things around the continued global institutionalization of the space.”
At the time, Veradittakit stated that the blockchain gaming sector would be “a huge sector for years to come,” and that the company would also invest in NFT marketplaces, platforms, and developer tools.
Pantera has revealed investments in Revolving Games, Stacked, Pinata, Stride, and Unstoppable Domains in the last two months. In July, Pantera led the latter company’s $65 million Series A round.
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