Pantera Capital, the renowned investment firm involved in crypto projects is closing its first blockchain fund called the ‘Pantera Blockchain Fund’ in the coming weeks. Launched in May 2021 with high hopes, the Pantera Capital Fund is settling for its wrap-up post its success in achieving the pre-determined target of $600 million raise from the industry. The highly-anticipated project has witnessed significant support from investors willing to explore the potential of digital tokens, Web3 protocols, and high liquidity tokens in sync with the Pantera ecosystem.

The team broke the news about the closure of its first capital fund to the industry at an investor conference call held on April 13, 2022. The CEO of the firm, Dan Morehead revealed that the fund will be closed at the start of May, depending upon the diligence procedures the involved parties have to pass through in this regard. With this news, Pantera also announced the launch of another fund branded as ‘Blockchain Fund II’ from its kitty. The upcoming initiative by Pantera will be available for access in 2023 and will strive to offer necessary support to early-stage solutions and products within the decentralized industry.

In order to strengthen its hold in the market and further its expansion plans, Pantera will launch yet another investment fund project named Pantera Select Fund. The initiative shall be presented with a pre-determined target of $200 million and will lay emphasis on supporting crypto brands that are in their nascent developmental stage. Unlike the other funds, the Pantera Select Fund will not revolve around Seed and Series A investments rather it will focus efforts on revenue-creating companies. The team will direct its endeavors in attracting support from firms related to blockchain technology, NFTs, Web3 gaming, Metaverse technology, DEXs, and DeFi.

The spearhead affirmed that the new fund will target funds in nearly ten companies during the upcoming year and a half span. The future investments will be small in size, more diversely targeted, and more concentrated in comparison to a typical growth fund. The crypto world has witnessed tremendous support from venture capital funds in recent times irrespective of the sluggish growth in the market space. Firms are actively receiving hefty investments from the big fishes of the sector. More emphasis is being given to projects related to new-age technologies such as Metaverse and NFTs. The industry is growing and entrepreneurs are scaling up their investments in the field to take advantage of the market dynamics at an early stage.

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