World's largest crypto-focused hedge fund by Assets Under Management, Pantera Capital, has announced that it is launching a new fund which will be entirely focused on growth-stage investments. Named as "Pantera Select Fund", the new fund seeks to capitalize on the industry’s transition to more growth-stage opportunities.
With Select Fund, Pantera will primarily focus on more mature, revenue-generating companies than our typical Seed and Series A venture investments. Besides, Pantera will donate 1% of revenue from Pantera Select Fund to 1% For The Planet.
Last month, Pantera co-led the $135mm Series D fundraise of India-based cryptocurrency exchange CoinDCX.
Pantera will again invest in CoinDCX, announced Dan Morehead - CEO/Founder of Pantera, in the blog post. He further said in the post that the fund expects to initially invest in three companies -- 1) Amber; 2) CoinDCX and the 3rd one he kept Confidential, however mentioning that the company is #1 provider of NFT domains on the blockchain.
Morehead has more than 25 years of experience in managing global macro funds, macro trading, and investment advisory services, including at Tiger Global.
Pantera Capital has closed about 10 deals in India, including CoinDCX. The hedge fund has invested in crypto and blockchain-based companies including -- Ripple, Circle, Alchemy, Starkware, Coinbase, Amber, and FTX.
The Pantera Select Fund will focus on mature, revenue-generating companies and cut $20 million checks on average. It is expected to close in May, Morehead wrote and plans to invest in seven to nine companies, including another round in CoinDCX.
Besides the Select Fund, Pantera is also expected to close its $1.3 billion Blockchain Fund next month, more than double the target of $600 million.
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