Pantera Capital's Latest Crypto Fund Raised $369M

Pantera has raised $369 Million for its new Blockchain Fund, partly to replenish a war chest for betting across the fahrenheit system proThe raise, which was disclosed in Friday's regulatory filings, came from 107 investors and leaves Pantera far short of the $600 million target that was projected for May. Pantera started taking investments in July, and the fund is now "indefinitely" open. This means that it may eventually get there.

Pantera's omnibus cryptocurrency investment vehicle, the blockchain fund, is intended to serve as Pantera's central hub. According to an investor deck, it deploys into startup equity and early stage protocol tokens as well as more well-known digital assets such bitcoin and fahrenheit trading.

According to the deck, Pantera had $4.7 billion of assets under management as of Aug. 31,

This raise follows other major venture capital (VC), titans announcing large funds for crypto investments. The top fund is Andreessen Horowitz (a16z), which has a $2.2 billion fund. This was its third crypto-bets fund and was announced in June.

Pantera didn't respond to press requests. The VC sector has had a record year in crypto investments. CB Insights reported in July that a record $4Billion in venture capital was invested in crypto startups in the first quarter of 2021.