Pantera Capital seeks $1B for a new crypto fund: Report

Digital asset investment manager Pantera Capital is reportedly looking to raise more than $1 billion for a new fund that offers investors exposure to a “full spectrum” of blockchain-based assets.

Slated for an April 2025 launch, the Pantera Fund V is set to serve as the firm’s ‘all-in-one’ fund, a slight change of tune from its existing Liquid Token Fund, Early Stage Token Fund, Bitcoin Fund and Venture Funds — which offer a more specific investment focus.

The fund requires a minimum $1 million allocation from qualified investors. The first close is scheduled for April 1, 2025. Limited partners will need to contribute a minimum of $25 million, according to an April 25 report from Bloomberg.

Startup equity, early-stage tokens, and liquid tokens are among the asset types that would be included in the Pantera Fund V, according to Pantera’s website.

Pantera maintains a total of $5.2 billion in assets under management across its four existing funds.

A $1 billion raise would be the largest for the cryptocurrency industry since May 2022, when Silicon Valley-based venture capital firm Andreessen Horowitz raised a record-setting $4.5 billion .

VC firm Paradigm is also reportedly negotiating a raise of up to $850 million for a new cryptocurrency fund, which — combined with Pantera — could signal that more institutional capital is coming back into the sector following a market rebound in 2023.

Cointelegraph contacted Pantera for comment but did not receive a response the time of publication. 

Last week, venture capital firm Andreessen Horowitz announced it raised $7.2 billion to invest in several technology-focused sectors, including GameFi and artificial intelligence. However, its $4.5 billion cryptocurrency-focused fund did not receive any additional capital.

Meanwhile, Pantera has doubled down on GameFi platform InfiniGods, exclusively taking its $8 million Series A round on April 25, the firm revealed in a statement.

Related: ‘FOMO’ once drove GameFi funding, but VCs say it’s different this time

Over $3.5 billion in funds have poured into the cryptocurrency industry, raised across 604 funding rounds so far in 2024 . If the current trend continues, this year's funding is on track to clear the $9.3 billion raised in 2023 by a considerable margin, according to RootData.

Despite the recent uptick, venture capital funding is still far off previous highs in 2021 and 2022, which saw a respective $31.2 billion and $29.3 billion raised. 

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