Pantera Capital seeks $1B for new crypto fund: Report
Digital asset investment manager Pantera Capital is reportedly looking to raise more than $1 billion to provide investors with exposure to the “full spectrum” of blockchain-based assets.
Planned to launch in April 2025, Pantera Fund V is designed to serve as the company's ‘all-in-one' fund, a slight variation on its existing Liquid Token Fund with a different investment focus.
The fund seeks to allocate at least $1 million from qualified investors. Initial closing is scheduled for April 1, 2025. Limited partners must contribute at least $25 million, according to an April 25 report by Bloomberg.
According to the Pantera website, startup equity, early stage tokens and liquid tokens are among the asset classes included in the Pantera Fund V.
Panteramain has a total of $5.2 billion in assets under management across its four existing funds.
Raising $1 billion would be the biggest for the cryptocurrency industry since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz raised a record $4.5 billion.
VC firm Paradigm is in talks to raise up to $850 million for its new cryptocurrency fund, which, along with Pantera, could signal that more institutional capital is returning to the sector following market growth in 2023.
Cointelegraph contacted Pantera for comment but did not receive a response by the time of publication.
Last week, venture capital firm Andreessen Horowitz announced it had raised $7.2 billion to invest in various technology-focused sectors, including gaming and artificial intelligence. However, the $4.5 billion cryptocurrency-focused fund received no additional capital.
Meanwhile, Pantera has doubled down on GameFi's platform InfiniGods, taking an $8 million Series A round just on April 25, the company said in a statement.
Related: ‘FOMO' once drove GameFi's funding, but VCs say it's different this time
More than $3.5 billion in funding has been poured into the cryptocurrency industry, with 604 funding rounds raised so far in 2024. If current trends continue, this year's funding is on track to clear the $9.3 billion raised by 2023 by a significant margin, according to RootData. .
Despite the recent upheaval, venture capital funding is still a long way off the highs it reached in 2021 and 2022, when $31.2 billion and $29.3 billion were raised, respectively.
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