According to reports, digital asset investment manager Pantera Capital seeks to raise over $1 billion in crypto funds to provide investors access to blockchain-based assets.
A little departure from its current Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund, and Venture Funds, which provide a more focused investing emphasis, the Pantera Fund V is scheduled to launch in April 2025 and will function as the company’s “all-in-one” fund.
Qualified investors must commit a minimum of $1 million to the fund. April 1, 2025, is when the first close is planned to occur. A Bloomberg story dated April 25 states that limited partners must contribute at least $25 million.
The Pantera Fund V would comprise, among other asset categories, liquid tokens, early-stage tokens, and startup stock, according to Pantera’s website.
Through its four current funds, Pantera keeps assets under management totaling $5.2 billion.
A $1 billion raise would be the biggest for the cryptocurrency sector since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz raised a record-breaking $4.5 billion.
With Pantera, VC firm Paradigm is allegedly discussing a raise of up to $850 million for a new cryptocurrency fund. This could indicate that more institutional capital is returning to the industry after a market recovery in 2023.
Venture capital firm Andreessen Horowitz declared last week that it had secured $7.2 billion to invest in several technology-focused industries, including artificial intelligence and GameFi. However, its $4.5 billion fund devoted to cryptocurrencies has yet to get more funding.
The company said Pantera is doubling down on GameFi platform InfiniGods, exclusively acquiring its $8 million Series A funding round on April 25.
The cryptocurrency market has received about $3.5 billion in investment thus far in 2024, spread over 604 fundraising rounds. RootData projects that if the trend continues, this year’s funding will easily surpass the $9.3 billion raised in 2023.
Even with the current increase, venture capital funding is still far below historical highs in 2021 and 2022, when $31.2 billion and $29.3 billion were raised, respectively.
