Series Pantera CapitalMcsweeney TheBlock is considering a new fund for blockchain companies. It’s already made a small equity investment in The Block’s last fundraise, but it will be targeting “growth-stage” companies instead. The firm hopes to close its first fund in 2022.
Pantera Capital is planning to raise $1.25 billion
Investing in cryptocurrencies has become more popular than ever, and Pantera Capital is planning to expand its portfolio by raising a new fund in the blockchain space. The company plans to close the second fund by May of next year and invest in digital tokens and equity. The company is already operating five funds and holds $4.5 billion in assets.
The new fund will be used by the company to acquire more digital tokens, equities, and shares in companies that are part of the Pantera portfolio. Last year, the firm launched its first blockchain fund, which raised more than $1 billion. The fund performed well and returned 385 percent in its first year. That performance topped that of its closest competitors, including an early stage token fund. Overall, the crypto fund sector returned 214% last year.
Currently, the market value of all cryptocurrencies has fallen below $1 trillion. One bitcoin is trading at about $19,000, down about 70% from its high in November 2021. Pantera CEO Dan Morehead attributed the unsatisfactory performance of digital currencies to their close ties to risky assets. He believes that this trend will eventually end and prices will start rising again.
It made a small equity investment in The Block
Pantera Capital is a venture capital firm that focuses on the crypto space. Its Blockchain Fund aims to invest in Web3 startups that create digital tokens with established liquidity levels. It recently made a small equity investment in The Block.
The fund will invest in companies in the growth stage, including blockchain startups and nonfungible token platforms. The fund will also invest in Web3 gaming, exchanges, and decentralized finance. Founder and chief executive Dan Morehead said the company would invest in digital tokens as well as equity.
Pantera Capital is an institutional asset manager specializing in the blockchain industry. It currently manages five funds, including the Blockchain Fund. Its latest fundraise raised $1.3 billion, making it one of the largest funds in the space. The fund is open only to qualified investors, and the minimum investment amount is $1 million.
It will focus on supporting “growth stage” crypto firms
Pantera Capital is an institutional asset manager focused on the blockchain industry. Its portfolio includes five funds, including Pantera Crypto and Pantera Blockchain Ventures. Its newest fund will launch in June 2021. It will invest in early-stage tokens and venture equity, with the goal of building a global platform. To date, Pantera has invested in over 24 companies.
Pantera Capital recently led a $15 million Series A round of funding for TheBlock, which is a decentralized exchange infrastructure company. TheBlock has previously partnered with ShapeShift and is now looking to expand its infrastructure.
It will close its first blockchain fund in 2022
Series Pantera CapitalMcsweeney TheBlock is a leading investment firm in crypto projects. It launched its first blockchain fund in May of 2021 and has raised more than $600 million from investors in the industry. The fund has invested in projects centered around Web3 protocols, digital tokens, and high liquidity tokens.
The fund is led by Dan Morehead, who has a background in VC. He is also a serial entrepreneur and he has worked for various blockchain ventures. His first fund, which is titled “Theblock,” is slated to close in 2022.
Its first fund will focus on the financial aspects of the blockchain industry, which is gaining traction as a business model. The firm plans to invest in blockchain projects such as those that are most relevant to corporate America. One of its largest clients is AT&T.