Pantera Capital, a crypto-focused investment firm, is establishing a new fund with a $200 million target at the beginning of May.
Pantera Select Fund will attempt to enable its limited partners to acquire exposure to three growth-stage deals that it has already locked in, as well as seven to nine others over the next year, according to a blog post published by the firm on Tuesday. The Select Fund, according to Pantera, will be smaller, more specialised, and thus more concentrated than a normal growth fund. Investments in Amber, a crypto investment gateway; an unnamed firm that creates NFT domain names; and an Indian crypto exchange are among the three agreements that have already closed.
“Instead of our normal Seed and Series A venture investments, we will largely focus on more mature, revenue-generating enterprises,” it stated. The Pantera Blockchain Fund’s Select Fund may also invest in select early-stage projects. Pantera was one of the first investment businesses to focus solely on blockchain and cryptocurrencies, and it recently announced plans to raise more than $1 billion for the Pantera Blockchain Fund. The fund had expected to take fresh investments through April, it claimed at the time.
The Pantera Blockchain Fund has already invested in 48 early-stage token initiatives and venture equity agreements, according to the blog post, including heading the $12 million funding round for the Aurora Bridge and the $50 million Series B investment round for the VLAR exchange.
Let’s see if Pantera Capital fetches this funding or not.
Read more: Rarify, an NFT startup, raises $10 million in funding backed by Pantera Capital
