Pantera Plans to Raise $1.25B for Second Blockchain Fund: Report

According to Dan Morehead, founder and CEO of Pantera Capital, the hedge fund was planning to raise $1.25 billion for its second blockchain fund.

According to a Sept. 28 Bloomberg report, Morehead Pantera said it aims to close its blockchain fund in May. The fund will reportedly invest in digital tokens and equity in an effort to solicit institutional investors.

“We want to provide liquidity to people who are desperate because we are still very bullish for the next 10 to 20 years,” Pentara’s CEO said.

In the year Launched in 2013, Pantera was one of the first crypto funds in the US when the price of Bitcoin (BTC) was below $100. Morehead said in a 2019 interview that BTC has the potential to reach $356,000 by 2022. Pantera has since grown to $4.5 billion in assets under management, according to its website.

Related: As Token2049 launches, Pantera’s CEO is bullish on DeFi, Web3 and NFTs.

If the reported second blockchain fund closes as planned, Pantera will follow the launch of its first blockchain fund in May 2021, targeting $600 million. Cointelegraph reported in April that the hedge fund was set to close the fund at an estimated $1.3 billion — double its target. In addition, Pantera offers a Liquid Token Fund, an Early Stage Token Fund, a BTC Fund, and a Venture Fund “to provide exposure to companies building products and services in the early blockchain ecosystem.”