Pantera Capital is returning to the crypto world, aiming to raise over 1 billion dollars for a new fund dedicated to investments in the blockchain sector.
This project comes after earlier this year, Pantera would have conducted another fundraising to purchase heavily discounted Solana (SOL) tokens from the now defunct crypto-exchange FTX.
Summary
Pantera Capital: raising over $1 billion for the new crypto and blockchain investment fund
The famous digital asset manager, Pantera Capital, is back in the crypto world. The new mission is to raise over 1 billion dollars for a new fund dedicated to investments in the blockchain sector.
“Pantera Capital is seeking to raise over $1 billion for a new fund that would offer investors exposure to the full spectrum of blockchain assets”
Specifically, the new fund will be called Pantera Fund V and would be the company’s second “all-in-one” fund, which would invest in startup equity, early-stage tokens, liquid tokens, and other assets.
If Pantera Capital were to succeed in its endeavor, the fund would be the largest raised since the sector collapsed due to a series of scandals and failures in 2022.
Pantera Capital and the fundraising for the launch of its new crypto and blockchain investment fund
Apparently, in order to reach the amount of over 1 billion dollars, the fund requires a minimum investment of 1 million dollars for qualified investors, with the first closing scheduled for April 1, 2025. Moreover, limited partners will have to contribute at least 25 million dollars.
Pantera is led by Dan Morehead, a veteran Bitcoin investor, who at the beginning of his career was an executive at Julian Robertson’s Tiger Management.
In late February, Dan Morehead had published his prediction for the crypto market, stating that in the next 18-24 months a “strong bull market” is expected to develop.
Specifically, the founder and managing partner of Pantera Capital had outlined the factors behind his optimistic forecast in one of the editions of the Blockchain Letter, published monthly by the company.
Given his experience, Morehead emphasized how the current situation is the dawn of the fourth main cycle for cryptocurrencies.
Solana (SOL) tokens discounted by FTX
Returning to Pantera Capital’s bold venture, it is worth highlighting the case of Solana (SOL) tokens.
Basically, at the beginning of this year, Pantera would have raised funds to purchase heavily discounted SOL tokens from the failed cryptocurrency exchange FTX.
Pantera Capital has also emerged as one of the winning bidders in this other batch of discounted Solana tokens. They were auctioned off by the administrators overseeing the bankruptcy of the now defunct crypto-exchange FTX.
According to what emerged, this week about 2,000 SOL tokens were sold. At the beginning of this month, FTX sold nearly two-thirds of a $2.6 billion stash of Solana tokens at a discounted price, attracting the interest of Pantera and Galaxy Digital.
The 41 million SOL tokens sold are locked in a pre-established four-year vesting period. Despite previous auctions yielding about $60 per token, it seems that these recent coins were sold at a higher price. It is expected that more auctions will follow.
