Pantera has raised $369 million for its new blockchain fund, helping to replenish a stockpile for bets throughout the cryptocurrency ecosystem.
The fundraising, disclosed in regulatory papers on Friday, comes in well shy of Pantera’s $600 million objectives, set in early May.
Pantera began accepting investments in July and plans to keep the fund open “indefinitely,” implying that it would ultimately reach its goal.
Pantera’s omnibus crypto investing vehicle is the blockchain fund. An investor presentation invests in company stock, early-stage protocol tokens, and more well-known digital assets such as bitcoin.
According to the deck, Pantera managed $4.7 billion of assets as of August 31.
The funding comes as other venture capital behemoths announce large funds for cryptocurrency ventures. For example, Andreessen Horowitz’s (a16z) $2.2 billion funds, its third for crypto investments, was launched in June.
Pantera has not responded to demands for comment at the time of publication. The VC sector has had a great year in terms of crypto investments. According to a July study by CB Insights, a record $4 billion in venture funding was poured into crypto companies in the second quarter of 2021 alone.