Pantera Capital, a cryptocurrency hedge fund, has secured $125 million for its third cryptocurrency venture fund, which is set to invest in crypto companies, instead of startups, reported CoinDesk.
The fund has a $175 million fundraising goal. Investors include high-net-worth individuals and family offices. The fund is also marketed to institutional investors.
Half the capital in the fund will be reserved for follow-on funding, with the goal of making investments of $3 million to $8 million for equity stakes. At the seed stage, the fund will target investments of $1 million to $3 million for equity stakes of 10 percent to 20 percent.
Pantera’s prior two funds have invested in 44 companies so far. The new fund is projected to support 30 to 50 companies
