Pantera Capital sets out stall to raise new $200 million fund

Quick Take

  • Pantera Capital is raising a new fund, targeting a close of $200 million. 
  • The crypto-focused investment firm has already locked in three deals. 

Crypto-focused investment firm Pantera Capital is raising a new fund, targeting a $200 million close at the start of May.  

Dubbed the Pantera Select Fund, it will aim to help its limited partners gain exposure to three growth-stage deals, which it has already locked in, plus seven to nine others over the course of the next year, the firm said in a blog post on Tuesday.  

Pantera says the Select Fund will be smaller, more targeted, and therefore more concentrated than a typical growth fund. The three deals it has already closed include investments in Amber, a crypto investments gateway; an unnamed company which produces NFT domain names; and an Indian crypto exchange. 

“We will primarily focus on more mature, revenue-generating companies than our typical Seed and Series A venture investments,” it said. ” The Select Fund may also invest in a few earlier-stage opportunities that Pantera Blockchain Fund is leading.

Pantera was one of the first investment firms to focus exclusively on blockchain and cryptocurrencies, and recently signaled that it was preparing to raise more than $1 billion for a new venture fund, dubbed the Pantera Blockchain Fund. At the time it said the fund had planned to take new investments until April.

According to the blog post, the Pantera Blockchain Fund has now invested in 48 early-stage token projects and venture equity deals, including leading the $12 million funding round for the Aurora bridge and VLAR exchange’s $50 million Series B.

The Block contacted Pantera Capital for comment but had not heard back by the time of publication. 

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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