Pantera Capital plans to raise $1.25 billion for its second blockchain fund

Pantera Capital plans to raise $1.25 billion for its second blockchain fund, according to The Block, citing Bloomberg. Dan Morehead, founder of Pantera Capital, said that he plans to end the fundraising of the second fund in May 2023. Due to the decline in the valuation of the invested companies, he hopes to purchase additional equity in the invested companies. Pantera Capital, which had planned to raise $600 million for its first blockchain fund, said earlier this year that it had more than $1 billion in commitments.