The Blockchain Fund from Pantera Capital has commitments of USD 1 billion

The Blockchain Fund from Pantera Capital has commitments of USD 1 billion

Panta-CE Dan Morehead
  • The partner of Pantera calls Gaming "a huge sector for the coming years" in the crypto room
  • The fund's venture equity deals range from $ 1 million to about $ 40 million, typically as part of seed, series A or Serie B financing rounds

Pantera Capital has commitments of $ 1 billion for its blockchain fund and will close the vehicle for new investors in April.

The asset manager, which is aimed at blockchain, announced in May that he wanted to raise $ 600 million for the fund. Only qualified buyers are available and has a minimum investment of $ 1 million.

"We will invest twice as much in the market when we expected," said Dan Morehead, CEO of Pantera, during an investor discussion on Tuesday. "All of our colleagues also have strong fundraising cycles, so that all the money is used and the market drives up."

Pantera will not make any new investments in its three previously started companies Venture-Fonds , since future deals will be incorporated into the new offer. About 40 % of the blockchain fund assets are invested in venture equity. About 30 % flow in early stages token and another 30 % are assigned liquid tokens.

"We will really immerse yourself in the consumer area [use case] much more, the intersection of traditional finance and defi as well as things about the continued global institutionalization of the room," said Pantera partner Paul Veradittakit at the telephone conference.

The investment sizes for the fund's venture equity deals range from $ 1 million to around $ 40 million, typically as part of seed, series-A or series-B financing rounds. Pantera can take over between 10 % and 20 % to the company.

token investments in the early phase that resemble managers as venture equity deals are sufficient from $ 1 million to $ 15 million, even in the earliest financing rounds.

"Our previous venture funds all started to return capital within three or four years, and then a lot after five," said Morehead. "I think this fund will be very similar."

What does the fund hold?

The Pantera Blockchain Fund has so far invested in 44 token projects and venture equity deals in the early phase. The company has managed or conducted 26 transactions, and others will be announced in the coming months.

managers emphasized the company's investment in Aurora, a bridge that is supposed to offer Ethereum compatibility and scalability for smart contracts on the Near-Blockchain and brought $ 12 million in October, as well as the Valr, which was based in South Africa, that brought in $ 50 million last week.

Pantera also focuses on what is said to be one of the hottest crypto segments: blockchain gaming, NFTS and the meta verses. In November, the company invested in the Seed financing round of the Web3 Gaming Infrastructure platform GUIDFI of $ 6 million.

"The game sector will be a huge sector in this area in the coming years," remarked Veradittakit. "It is very practical to use it fairly easy for people and to understand it more easily than things like Defi."

Pantera also intends to invest in NFT marketplaces (non-fungible tokens), platforms and developer tools in order to facilitate the structure in the growing space.

"Where we see this market with NFTS is not only the representation of digital art, but also the representation of video, music ... and then of course also in video game assets," said Veradittakit.

Where does the market go?

Morehead repeated earlier comments that the crypto investment class is "the most asymmetrical trade" that he has ever seen.

When asked about the market cycles, the CEO told crypto investors who sell before submitting taxes, some of the recent price declines.

Morehead predicted that Bitcoin would reach $ 115,000 by August 2021. The price of the financial value was around $ 42,200 on Wednesday at 10:30 a.m., according to block works - an increase of 9 % compared to 24 hours ago. The executive noted that he would expect prices to be "much higher" in one year.

"It is a kind of reflex -like reaction to say that it is a bubble," said Morehead. "You can't have a bladder that almost nobody has. Ninety percent of the large institutions still have no real, direct position in the blockchain."


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