Pantera Capital Seeks To Raise $1.25B For Blockchain Fund: What You Need To Know

Crypto venture capital firm Pantera Capital is seeking to raise $1.25 billion for its second blockchain fund. 

What Happened: At a conference in Singapore, Pantera founder Dan Morehead said the new fund would invest in digital tokens and equities, including shares of companies that Pantera already owns but whose value has declined.

Pantera's existing blockchain fund, launched in June 2021, is an actively managed service that makes investments in a variety of venture equity, early stage tokens and liquid tokens.

It only accepts qualified buyers and requires a $1-million minimum commitment.

The second fund, for which, Pantera Capital is seeking to raise $1.25 billion, will close in May and invest in equity and digital tokens.

“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years,” Morehead said, according to Bloomberg. 

Pantera Capital Execs Exit: Chief Financial Officer Ryan Davis left Pantera earlier this month, Coin Desk reported. 

Terence Schofield, the chief technical officer, and Samir Shah, the company’s chief operating officer, also resigned from their positions, the report said.

Benzinga has contacted Pantera Capital for comment on the executive departures. 

The Market Landscape: Since June, the crypto markets have witnessed a significant meltdown from their all-time highs, with the market capitalization hovering around the $1-trillion mark.

Traditional financial markets meanwhile are experiencing turmoil as well.

The unsatisfactory performance of most digital currencies is due to their close ties to other risky assets, Morehead said. 

This correlation will soon come to an end, which would stabilize the prices of major cryptos, in the Pantera CEO's view. 

“Unfortunately, crypto pricing has become correlated with risk assets, which I honestly don’t think has to be true. My hope is that soon crypto will decouple from the macro markets,” he said.

Morehead said he believes the next crypto rally is already underway.

“We’ve been through three big bear market cycles. I actually think we hit the lows in June, and we are on to the next bull market. It might be rocky and might take a while, but I think we are on to the next leg of a rally,” he said.

Are you ready for the next crypto bull run? Be prepared before it happens! Hear from industry thought leaders like Kevin O’Leary and Anthony Scaramucci at the 2022 Benzinga Crypto Conference on Dec. 7 in New York City.