Pantera Capital Set to Close $1.3B Blockchain Fund

The crypto investment firm has plans for a follow-up blockchain fund.

AccessTimeIconApr 12, 2022 at 5:41 p.m. UTC
Updated Apr 12, 2022 at 6:30 p.m. UTC

Brandy covers crypto-related venture capital deals for CoinDesk.

Pantera Capital plans to close the Pantera Blockchain Fund, its first blockchain fund, in the next three to four weeks with about $1.3 billion in committed capital, according to an investor conference call.

The amount is more than double the $600 million target when the company began fundraising last November. Pantera last month said commitments then had surpassed $1 billion.

The fund was launched during a record-setting period for crypto investment vehicles, including a $2.5 billion fund from Paradigm that also begun in November.

Pantera also outlined its near-term road map, including plans for a second blockchain fund in 2023. Franklin Bi, director of portfolio development at Pantera, said the follow-up will have essentially the same objectives as the initial fund – new deals in early-stage, private tokens and venture capital.

“We will come back with a larger and more diversified and probably longer-investment-period growth-stage fund, say in 2024,” Bi added, speaking about the firm's plans beyond the second blockchain fund.

The investor call was for the new Pantera Select Fund announced last week with a $200 million commitment to invest in “more mature, revenue generating companies,” according to a client letter.

The Select Fund was Pantera’s fifth, joining the Bitcoin Fund, Early-Stage Token Fund, Liquid Token Fund and Blockchain Fund. Select is “smaller, more targeted and therefore more concentrated than a typical growth fund,” Pantera said. The deadline for limited partners to get in on the Select Fund is May 1.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

Trending

1
CoinDesk - Unknown
From BTD to FUD to WAGMI: Understanding Crypto Acronyms

If you follow crypto on Twitter, Discord or another platform, you may see people saying that they have “FOMO” or that the market is driven by “FUD.” Here’s what you need to know to decode the conversation.

CoinDesk - Unknown
2
CoinDesk - Unknown
CoinFLEX Says Roger Ver Owes It $47M USDC as Spat Turns Public

The crypto exchange said on Monday it was launching a recovery token because of debt that a high net worth customer owed the exchange.

CoinDesk - Unknown
3
CoinDesk - Unknown
Aduana de Argentina incauta $21M en equipos de minería de criptomonedas

Según el gobierno, 2233 máquinas Whatsminer fueron importadas de manera irregular.

CoinDesk - Unknown
4
CoinDesk - Unknown
OKX to Increase Staff by 30% Despite Market Downturn

The crypto exchange wants to have 5,000 employees.

CoinDesk - Unknown