Dan Morehead, the CEO of Pantera Capital has an expectation that a $1.3 billion fund of blockchain will close in the next four weeks after the completion of required due diligence. This due diligence is conducted by big institutions and soon they will wrap it up. Thus, the news of Pantera Capital is to close the fund by May, and the fund is supported by a $1.3 billion valuation of capital.
Pantera Capital Raised An Amount Of $1.3 Billion
The fund of a blockchain was declared last year in May, with objectives to incur $600 million for investing in the initial stage of venture equity, tokens, tokens with heavy liquidity, and firms of Web3. This mark has been crossed by Pantera and till last month, the amount of the fund was nearly $1 billion.
The current figure of $1.3 billion was reported this Tuesday in the conference call of investors where a discussion about $200 million was conducted which will be used in the Pantera Select Fund. Though the date of closing the fund was not mentioned, it is likely to be in the first half of May.
Morehead also stated that after this the company will emphasize closing the 2023 Blockchain Fund II which is going to be the same as the previous one. He is expecting that they will expand and return with a long and diversified growth-stage fund which will be launched in 2024.
The fund of Panera with a valuation capital of $200 million will be used to invest in approximately 10 firms in the next 1.5 years. The company will be now interested to work with higher revenue-generating and mature firms rather than Series A and Seed venture investments. Thus, this fund will be used in numerous sectors of cryptocurrency like gaming in Web3, DeFi, NFTs, the infrastructure of blockchain, and the Metaverse.
