Big Bucks for Emerging Tokens

Pantera Capital has made headlines again, and not just because they forgot to invite me to the last conference call. Their highly anticipated Blockchain Fund is set to close soon with a staggering $1.3 billion in capital. Initially aimed at raising $600 million last year, this fund has surpassed expectations, signaling serious investor confidence in the crypto space.

What’s Cooking with the Fund?

So, what exactly can this fund accomplish? The Pantera Blockchain Fund targets early-stage tokens, venture equity, and firms within the Web3 ecosystem. Think of it as the shiny new playground where early startups can swing and slide their way to success. Last month, Pantera boasted that the fund had already topped $1 billion, which honestly sounded like an overzealous birthday party thrown by an excited parent.

Future Focus: Growth Stage Crypto Firms

In a recent investor conference call, CEO Dan Morehead detailed the fund’s imminent closing, hinting that it might wrap up around early May. It seems like after this rollercoaster of a fund, the next stop is the Pantera Select Fund, aimed at “growth stage” crypto firms looking to actually make money—not just promise it. Much like my infamous plan to sell lemonade, only to realize no one wanted it.

The Investment Strategy

Let’s break down the investment strategy here. The Pantera Select Fund plans on supporting around 10 companies within the next year and a half. They’ll focus on firms across various crypto sectors like blockchain infrastructure, NFT platforms, and, of course, those tantalizing decentralized finance projects. Basically, if it has anything to do with crypto, they’re interested. You could say they’re the ‘coin-quisitors’ of the modern age.

Words of Wisdom from Morehead

Morehead emphasized that these funds will be smaller and more targeted compared to a typical growth fund. He’s also feeling bullish about locking in some compelling growth-stage deals, unlike my attempts to lock in a date for prom back in high school—with much more success, I guess!

“For the first time in our nine years, we have three very compelling growth-stage deals locked in all at the same time,” said Morehead with the enthusiasm of a puppy getting a chew toy.

According to Morehead, there has never been a better time to jump in the crypto market, hinting that we might be witnessing some undervalued opportunities here. With crypto trading at -56% below its exponential growth trend, it seems like there could still be room for new investors to climb aboard.