Pantera Capital has raised $ 369M from 107 investors for its new blockchain fund, which was disclosed in regulatory filings on Friday 10 September, and is keeping the fund open indefinitely. A $600 million target Pantera had projected in early May was well short of the raise amassed from 107 investors. Pantera began taking investments in July and is leaving the fund open “indefinitely,” meaning it could get there eventually.

About Pantera

Pantera Capital is an American hedge fund that specializes in Cryptocurrencies. The firm was founded in 2003 by Dan Morehead. In 2013, it launched the first investment fund focused on bitcoin in the United States. As of May 2020, Pantera had $500 million in assets under management.

A blockchain fund is used to invest in companies involved with the transformation of business applications through blockchain innovation, or to invest in futures and options tied to the performance of other cryptocurrencies. Pantera’s announcement coincides with other VC firms announcing substantial funds for crypto investments, including a $2.2B investment from a16z announced in June 2021. A16z, by American venture capital firm Andreessen Horowitz, has previously successfully invested in crypto exchange, Coinbase, using a crypto-investment fund.

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