Vinkmag ad

Crypto hedge fund big Pantera Capital is about to shut a blockchain fund subsequent month that’s backed by round $1.3 billion value of capital. The Pantera Blockchain Fund was introduced in May final 12 months, with plans to boost $600 million to put money into early-stage tokens, enterprise fairness, Web3 corporations and tokens with sturdy liquidity. It has since surpassed that concentrate on considerably, with the agency revealing final month that the fund had topped $1 billion. The newest $1.3 billion determine was famous throughout an April 12 investor convention name concerning the corporate’s new $200 million Pantera Select Fund that may again “growth stage” crypto corporations which might be able to generate income, versus corporations in early funding phases that being sought out through the Blockchain Fund. While a particular cut-off date for the fund wasn’t detailed, Pantera Capital CEO Dan Morehead advised it might be in early May: “We’re wrapping up the Blockchain Fund, I think it’s gonna be about $1.3 billion and over the next three or four weeks, and as some of the big institutions that have very detailed due diligence processes wrap up, we will be done with that fund.”Moving ahead, Morehead additionally famous that the corporate will then shift its focus to closing the Blockchain Fund II 2023, which can “essentially be the same” as the previous variation of the fund and look to acquire additional offers within the “early-stage private token space, and new deals in the early venture space.” “We will come back with a larger and more diversified and probably longer investment period growth-stage fund, in say 2024,” Morehead added. The Pantera Select Fund can also be anticipated to shut in early May with round $200 million value of capital. The agency said that the fund can be used to assist and scale corporations which might be already open for enterprise: “The Fund is expected to invest in about 10 companies over the next 18 months or so. We will primarily focus on more mature, revenue-generating companies than our typical Seed and Series A venture investments.”Pantera said that the fund will put money into corporations throughout a number of crypto sectors akin to blockchain infrastructure, nonfungible token (NFT) platforms, Web3 gaming, the Metaverse, exchanges and decentralized finance (DeFi). Related: Hedge fund report says Bitcoin value is ‘at a relatively inexpensive place’In the agency’s April 5 e-newsletter, the Pantera CEO additionally said that the funds can be “smaller, more targeted, and therefore more concentrated than a typical growth fund” as he emphasised his bullishness on having a number of offers already in place: “For the first time in our nine years, we have three very compelling growth-stage deals locked in all at the same time. That catalyzed us to offer a special fund to help Limited Partners gain exposure to these growth-stage deals plus seven to nine more we will invest in over the next year.”We at the moment are -56% under the 11-year exponential development pattern. The markets have hardly ever been so low-cost relative to the pattern.Crypto is undervalued in my view.More ideas right here: https://t.co/JKVGi8BHwR pic.twitter.com/95F32y6RPc— Dan Morehead (@dan_pantera) April 6, 2022

Vinkmag ad


Crypto hedge fund big Pantera Capital is about to shut a blockchain fund subsequent month that’s backed by round $1.3 billion value of capital.

The Pantera Blockchain Fund was introduced in May final 12 months, with plans to boost $600 million to put money into early-stage tokens, enterprise fairness, Web3 corporations and tokens with sturdy liquidity. It has since surpassed that concentrate on considerably, with the agency revealing final month that the fund had topped $1 billion.

The newest $1.3 billion determine was famous throughout an April 12 investor convention name concerning the corporate’s new $200 million Pantera Select Fund that may again “growth stage” crypto corporations which might be able to generate income, versus corporations in early funding phases that being sought out through the Blockchain Fund.

While a particular cut-off date for the fund wasn’t detailed, Pantera Capital CEO Dan Morehead advised it might be in early May:

“We’re wrapping up the Blockchain Fund, I think it’s gonna be about $1.3 billion and over the next three or four weeks, and as some of the big institutions that have very detailed due diligence processes wrap up, we will be done with that fund.”

Moving ahead, Morehead additionally famous that the corporate will then shift its focus to closing the Blockchain Fund II 2023, which can “essentially be the same” as the previous variation of the fund and look to acquire additional offers within the “early-stage private token space, and new deals in the early venture space.”

“We will come back with a larger and more diversified and probably longer investment period growth-stage fund, in say 2024,” Morehead added.

The Pantera Select Fund can also be anticipated to shut in early May with round $200 million value of capital. The agency said that the fund can be used to assist and scale corporations which might be already open for enterprise:

“The Fund is expected to invest in about 10 companies over the next 18 months or so. We will primarily focus on more mature, revenue-generating companies than our typical Seed and Series A venture investments.”

Pantera said that the fund will put money into corporations throughout a number of crypto sectors akin to blockchain infrastructure, nonfungible token (NFT) platforms, Web3 gaming, the Metaverse, exchanges and decentralized finance (DeFi).

Related: Hedge fund report says Bitcoin value is ‘at a relatively inexpensive place’

In the agency’s April 5 e-newsletter, the Pantera CEO additionally said that the funds can be “smaller, more targeted, and therefore more concentrated than a typical growth fund” as he emphasised his bullishness on having a number of offers already in place:

“For the first time in our nine years, we have three very compelling growth-stage deals locked in all at the same time. That catalyzed us to offer a special fund to help Limited Partners gain exposure to these growth-stage deals plus seven to nine more we will invest in over the next year.”


Read Previous

Bitcoin Price Falls As Interest Rates Rise

Read Next

a16z’s Chris Dixon tops ‘Midas List’ by turning $350M into $6B in 2021

Leave a Reply

Your email address will not be published.

Most Popular