The amount raised by Pantera Capital for a fund targeting Web3 startups has reached $1.3 billion. The figure was disclosed at a client conference, according to Cointelegraph.<\/p>\n
As of November 2021, the vehicle had attracted targeted $600 million. At that time, the firm expected the fund to grow to $1 billion by March 2022.<\/p>\n
The Blockchain Fund’s capital will be deployed to acquire equity stakes, liquid tokens and coins prior to listing on exchanges.<\/p>\n
\n\u201cOver the next three to four weeks we will close the investment window for the fund as due diligence procedures are completed by some major institutions,\u201d<\/em> said Pantera Capital CEO Dan Morehead.<\/p>\n<\/blockquote>\n
The CEO said that subscriptions for Blockchain Fund II 2023 would open thereafter. Its investment policy would be similar to the previous fund.<\/p>\n
The firm also announced the May launch of Pantera Select Fund with a target size of $200 million. Over the next 18 months the fund will select roughly 10 mature, revenue-generating projects for investment, with a focus on infrastructure, blockchain gaming, NFTs, metaverses, DEXs and DeFi.<\/p>\n
In February, Morehead described cryptocurrencies as the best asset for preserving savings. Earlier, the Pantera Capital CEO predicted that over the next 10\u201320 years up to 50% of all transactions, in some form, would be carried out via Ethereum.<\/p>\n
Earlier Haun Ventures attracted $1.5 billion<\/a> into two crypto funds focused on Web 3.0. The firm is linked to former Andreessen Horowitz general partner Katie Haun.<\/p>\n
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