Pantera Capital to raise $1 billion for new crypto fund

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Pantera Capital, a prominent digital asset management firm, is aiming to raise more than $1 billion for its new fund, the Pantera Fund V.

The fund will offer investors exposure to a wide range of blockchain assets, including startup equity, early-stage tokens, and liquid tokens.

The Pantera Fund V is set to be the company’s second “all-in-one” fund, offering a diversified investment strategy across the blockchain ecosystem. If successful, the fund would be the largest raised in the sector since the industry’s collapse in 2022, which was marked by a series of scandals and bankruptcies.

The digital asset space has experienced a challenging fundraising environment in recent years, with fund managers struggling to attract new capital. However, there are signs of a resurgence in investor interest, with venture-capital firm Paradigm reportedly seeking to raise up to $850 million.

According to a person familiar with the matter, Pantera’s new fund is expected to reach a similar size as its previous fund, which raised approximately $1.25 billion two years ago. The firm is led by Dan Morehead, a veteran Bitcoin investor and former executive at Julian Robertson’s Tiger Management.

The Pantera Fund V has set a minimum investment of $1 million for qualified investors, with the first close scheduled for April 1, 2025. Limited partners will be required to contribute at least $25 million to participate in the fund.

Earlier this year, Pantera secured funding to purchase heavily discounted SOL tokens from the bankrupt crypto exchange FTX, demonstrating the firm’s ability to capitalize on opportunities in the rapidly evolving digital asset market.

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