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Digital asset investment manager Pantera Capital is reportedly looking to raise more than $1 billion for a new fund that offers investors exposure to a “full spectrum” of blockchain-based assets.
Slated for an April 2025 launch, the Pantera Fund V is set to serve as the firm’s ‘all-in-one’ fund, a slight change of tune from its existing Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund and Venture Funds — which offer a more specific investment focus.
The fund requires a minimum $1 million allocation from qualified investors. The first close is scheduled for April 1, 2025. Limited partners will need to contribute a minimum of $25 million, according to an April 25 <a href="https://www.bloomberg.com/news/articles/2024-04-25/pantera-capital-seeks-to-raise-1-billion-for-a-new-crypto-fund" target="_blank" rel="noopener noreferrer nofollow">report</a> from Bloomberg.
Startup equity, early-stage tokens, and liquid tokens are among the asset types that would be included in the Pantera Fund V, <a href="https://panteracapital.com/funds/pantera-fund-v/" target="_blank" rel="noopener noreferrer nofollow">according</a> to Pantera’s website.
Pantera<a href="https://panteracapital.com/" target="_blank" rel="noopener noreferrer nofollow">maintains</a> a total of $5.2 billion in assets under management across its four existing funds.
A $1 billion raise would be the largest for the cryptocurrency industry since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz <a href="https://cointelegraph.com/news/andreessen-horowitz-closes-4-5-billion-crypto-fund-amid-market-turmoil" rel="noopener noreferrer nofollow">raised a record-setting $4.5 billion</a>.
VC firm Paradigm is also reportedly <a href="https://cointelegraph.com/news/paradigm-seeks-850-millon-for-crypto-fund" rel="noopener noreferrer nofollow">negotiating a raise of up to $850 million</a> for a new cryptocurrency fund, which — combined with Pantera — could signal that more institutional capital is coming back into the sector following a market rebound in 2023.
Cointelegraph contacted Pantera for comment but did not receive a response the time of publication.&nbsp;
Last week, venture capital firm Andreessen Horowitz announced it <a href="https://cointelegraph.com/news/a16z-raises-7-billion-for-new-gaming-ai-venture-funds" rel="noopener noreferrer nofollow">raised $7.2 billion to invest</a> in several technology-focused sectors, including GameFi and artificial intelligence. However, its $4.5 billion cryptocurrency-focused fund did not receive any additional capital.
Meanwhile, Pantera has doubled down on GameFi platform InfiniGods, exclusively taking its $8 million Series A round on April 25, the firm <a href="https://panteracapital.com/blog-doubling-down-on-infinigods/" target="_blank" rel="noopener noreferrer nofollow">revealed</a> in a statement.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/4c9e8b25-7208-47ba-8a62-44ce6148c108.png">
 <figcaption style="text-align: center;">Source: <a href="https://x.com/PanteraCapital/status/1783580776430465305" target="_blank" rel="noopener noreferrer nofollow">Pantera Capital</a>
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/gamefi-vc-funding-fomo-last-cycle-but-vcs-say-its-different" rel="noopener noreferrer nofollow">‘FOMO’ once drove GameFi funding, but VCs say it’s different this time</a>
Over $3.5 billion in funds have poured into the cryptocurrency industry, raised across 604 funding rounds <a href="https://cointelegraph.com/news/paradigm-seeks-850-millon-for-crypto-fund" rel="noopener noreferrer nofollow">so far in 2024</a>. If the current trend continues, this year's funding is on track to clear the $9.3 billion raised in 2023 by a considerable margin, <a href="https://www.rootdata.com/dashboard" target="_blank" rel="noopener noreferrer nofollow">according</a> to RootData.
Despite the recent uptick, venture capital funding is still far off previous highs in 2021 and 2022, which saw a respective $31.2 billion and $29.3 billion raised.&nbsp;
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/8711b57b-2558-4851-a5d6-8cc7f54fadf4.png">
 <figcaption style="text-align: center;">Cryptocurrency fundraising between Jan. 2020 and April 2024. Source: RootData
 </figcaption>
</figure>
Magazine:<a href="https://cointelegraph.com/magazine/learn-to-pitch-like-a-man-helping-female-crypto-founders-blast-off/" rel="noopener noreferrer nofollow"> The secret of pitching to male VCs: Helping female crypto founders blast off</a>

Pantera Capital seeks $1B for a new crypto fund: Report

Cointelegraph

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