A prominent participant in the digital asset management market, Pantera Capital is presently soliciting more than $1 billion for its most recent cryptocurrency fund. The goal of this fund is to provide investors with exposure to a wide variety of blockchain assets, opening doors to opportunities in the wider cryptocurrency market.
The ‘All-In-One’ Pantera Fund V
As reported by Bloomberg, the Pantera Fund V would function as an all-in-one fund offering investors exposure across multiple asset classes such as multi-stage tokens, startup equity, liquid tokens, as well as other assets.
If successful, this would be Pantera’s biggest fundraising effort following the significant bankruptcies and scandals of the crypto winter of 2022. As a result, the fund managers faced significant difficulties raising money until the final year of 2023.
But the crypto funds are recovering with a glimmer of hope as the market opens up with the involvement of major players like BlackRock and the introduction of the spot Bitcoin ETF. Other participants in the cryptocurrency sector are seeking to raise money in addition to Pantera. Paradigm declared earlier this month that it will be raising $850 million.
According to a confidential source, Pantera Capital’s upcoming fund is likely to match the size of its previous fund, which amassed approximately $1.25 billion around two years ago. Led by Dan Morehead, an experienced Bitcoin investor who previously held an executive position at Julian Robertson’s Tiger Management, Pantera Capital is preparing to launch its new fund.
Qualified investors will be required to make a minimum investment of $1 million, with the initial closing scheduled for April 1, 2025. Limited partners will have to commit a minimum of $25 million, as outlined in the document.
Acquiring Solana Tokens
In related news, Pantera Capital was able to purchase extra Solana tokens at the most recent FTX sale.
Recently, Pantera Capital acquired a further tranche of Solana (SOL) tokens via the FTX bankruptcy estate’s continuing asset liquidation procedure. This purchase is a component of the auctions that were planned to oversee the disposal of the assets owned by the now-defunct cryptocurrency exchange FTX.
About 2,000 SOL tokens were sold, according to a source familiar with the deal who wished to remain anonymous. According to reports, the Solana tokens went for more than those from earlier auctions, suggesting that there may have been a spike in interest in the asset despite its initial connection to FTX. Although the precise price per token in this auction was not made public, it is believed to have exceeded the $60 threshold at which prior transactions had taken place.
