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Pantera Capital Goes Beyond Expectations, Yields $1.3B Blockchain Fund -Breaking

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Pantera Capital exceeds expectations, yields $1.3B in Blockchain Fund
  • Pantera Capital will close its blockchain fund in the next month. It is supported by approximately $1.3 billion.
  • With the recent achievement of $1 billion, it has now surpassed all its targets.
  • Now, the company is focusing on closing the Blockchain Fund II 2023 fund.

Pantera Capital, a crypto hedge fund company is closing a fund that’s backed by $1.3 billion in capital next month.

Pantera Blockchain Fund, which was first announced last May, was estimated to have raised approximately $600 million. They would invest in venture equity and early-stage tokens as well as tokens with high liquidity.

It has now surpassed all of its targets and expectations, surpassing $1 billion just last month.

The company’s latest figure of $1.3Billion was revealed at an investor conference on April 12. The call was mostly centred around the firm’s $200 million Pantera Select Fund. This fund plans to support “growth-stage” crypto firms that are ready to generate revenue.

Officially, the closing date of the fund is not yet known.

Dan Morehead, Pantera Capital’s CEO, said that “We’re wrapping up the Blockchain Fund, I think it’s gonna be about $1.3 billion and over the next three or four weeks, and as some of the big institutions that have very detailed due diligence processes wrap up, we will be done with that fund.”

Morehead stated that the company would shift its attention to the closing of the Blockchain Fund II 2023. It will operate in a similar way to the earlier version. It is expected to focus on the “early-stage private token space, and new deals in the early venture space”.

The CEO then concluded by saying that “The Fund is expected to invest in about 10 companies over the next 18 months or so.”

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