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: On a conference in Singapore, Pantera founder Dan Morehead said the new fund would invest in digital tokens and stocks, including shares in 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 stocks, early-stage tokens and floating tokens.

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

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

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

Pantera Capital Execs Exit: Finance manager Ryan Davis left Pantera earlier this month, Coin Desk reported.

Terence Schofield, 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, crypto markets have witnessed a significant meltdown from their all-time highs, with the market capitalization hovering around $1 trillion.

Meanwhile, traditional financial markets are also experiencing turmoil.

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

This correlation will soon end, which will 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 needs to be true. My hope is that crypto will soon disconnect from the macro markets,” he said.

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

“We have been through three major bear market cycles. I actually think we hit the June lows and we’re headed for the next bull market. It might be rocky and might take a while, but I think we’re on to the next stage 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 on Benzinga Crypto Conference 2022 on December 7 in New York City.