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 report from Bloomberg.
Startup equity, early-stage tokens, and liquid tokens are among the asset types that would be included in the Pantera Fund V, according to Pantera’s website.
Panteramaintains 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 raised a record-setting $4.5 billion.
VC firm Paradigm is also reportedly negotiating a raise of up to $850 million 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.
Last week, venture capital firm Andreessen Horowitz announced it raised $7.2 billion to invest 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 revealed in a statement.
Related: ‘FOMO’ once drove GameFi funding, but VCs say it’s different this time
Over $3.5 billion in funds have poured into the cryptocurrency industry, raised across 604 funding rounds so far in 2024. 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, according 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.
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