Cryptocurrency investment firm Pantera Capital raised $ 600 million for its fourth fund, with about 75% of the capital coming from institutional investors.

Dan Morehead – CEO of Pantera Capital

Institutional support marks a major shift from the company’s $ 175 million fund in 2018, which was largely funded by wealthy crypto investors.

Pantera expects the fund to close its $ 1 billion financing round in March, citing an unnamed source. The fund will provide venture capital, introduced cryptocurrencies and tokens in development.

Pantera was founded in 2003 by Tiger Management alum Dan Morehead as a global hedge fund before moving to digital currencies after a decade of doing business. The company has backed more than 80 early-stage blockchain companies and 65 token exchanges in a portfolio that includes payment company Circle, exchange Coinbase, and Ripple, which issued XRP.

In September, Pantera raised $ 369 million for its new blockchain fund. As of August, the company had assets of $ 4.7 billion under management.

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Annie

According to Coindesk

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