Crypto funding agency Pantera Capital has raised $600 million for its fourth fund with roughly 75% of the capital coming from institutional buyers, resembling endowments, supported The Information.
- The institutional backing is a change from the agency's $175 million fund in 2021, which was for the most part funded by rich crypto buyers, the report mentioned.
- Pantera declined to remark when contacted by CoinDesk.
- Pantera expects the fund to succeed in $1 billion when it closes in March, the story mentioned, citing an nameless supply. The fund will put money into enterprise fairness, crypto tokens which have launched and tokens in improvement.
- Pantera was based by Tiger Management alum Dan Morehead in 2003 as a worldwide hedge fund earlier than shift its focus a decade later to digital currencies. The agency has at the moment backed greater than 80 blockchain firms and 65 early-stage token offers throughout a portfolio that features Circle, Coinbase and Ripple.
- In September, Pantera raised $369 million for its then new blockchain fund. The agency had $4.7 billion in property underneath administration as of August.
Read More: Pantera CEO Says Bitcoin ETF May Fail to Spark Rally
Post a Comment