• Pantera Capital, one of the largest managers of digital assets, is seeking to raise more than $1 billion for a new crypto fund
• The Pantera Fund V would invest across the spectrum of blockchain assets including startup equity, early-stage tokens, liquid tokens, and other assets
• If successful, the fund would be the largest raised since before the crypto sector collapsed amid scandals and bankruptcies in 2022
Pantera Capital, one of the largest managers of digital assets, is seeking to raise more than $1 billion for a new fund that would offer investors exposure across the spectrum of blockchain assets.
Details on the New Fund
The Pantera Fund V would be the company’s second all-in-one fund to invest in startup equity, early-stage tokens, liquid tokens, and other assets, according to information seen by Bloomberg News. A spokesperson for Pantera didn’t immediately return a request for comment.
If successful, the fund would be the largest raised since before the sector collapsed amid a series of scandals and bankruptcies in 2022. As recently as late 2021, Pantera was struggling to raise a new blockchain fund amid a bitcoin slump.
Pantera’s Previous Funds
Pantera launched its first crypto fund in 2013, when bitcoin traded at around $100. The firm has since launched several other funds focused on blockchain technology, including an initial coin offering fund in 2017.
Pantera’s last fund, Venture Fund IV, closed in 2018 with $71 million. The firm’s Digital Asset Fund, which invests in liquid tokens, has returned more than 10,000% for investors since its 2013 inception.
Outlook for Crypto Fundraising
If Pantera succeeds in raising $1 billion, it would be the largest crypto fund since Paradigm and Haun Ventures each raised $2.5 billion funds in 2021.
Andreessen Horowitz aims to raise between $800 million and $1 billion for its fourth crypto fund, after its $2.2 billion third fund last year.
Conclusion
The new Pantera fund aims to capitalize on renewed investor interest in crypto following the massive price declines in 2022. But fundraising won’t be easy, even for one of the most established crypto investment firms. Regulatory scrutiny remains high and some institutional investors remain wary of crypto’s volatility.
