Pantera Capital Seeks $1.25 Billion for Second Blockchain Fund

U.S. hedge fund Pantera Capital has revealed plans to raise up to $1.25 billion for the company’s second blockchain fund, showing that institutional investors are increasingly hungry for cryptocurrencies despite the turmoil. latest market downturn.

Announced by Pantera Capital founder and CEO Dan Morehead at a recent conference in Singapore, the dynamic is designed to boost the fund’s exposure to crypto next year. The CEO cited by Bloomberg said that Pantera Capital aims to close the fund by May 2023. The fund will invest in equity and digital tokens, he said.

In addition, Morehead announced he is also looking to buy more shares in some of the companies that Pantera Capital already owns after their valuations dropped.

We want to provide liquidity to those who are giving up because we are still very optimistic over the next ten or twenty years,” he said.

Last June, the CEO wrote in his newsletter that, despite seeing three significant crypto “breaks” with Terra, Three Arrows Capital and Celsius (CEL), there are there could be “several more crises coming in the next month or two. ” He cautioned that each of these crises and bankruptcies should not be treated as an isolated event, as they leave “a string of problems for their counterparts,” as was the case with Three Arrows Capital.

Read more: Tyler Hobbs’ NFT QQL Project Raises Nearly $17 Million From Mint Successfully

At the same time, Morehead said the crypto market is “very efficient” and with “a 70-90% decline we could have solved most of the problems. We think these events have mostly passed through the crypto space.”

Pantera Capital says it established the first crypto-driven fund in the United States in 2013 when bitcoin was trading at around $65. The company then launched its first blockchain-focused venture fund.

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