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Pantera Capital's fourth fund has raised $600 million, 75% of which comes from institutional investors

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More institutional investors are beginning to accept crypto venture capital.

Rhythm BlockBeats news, on November 24, according to the technology news website the Information, encryption company Pantera Capital raised $600 million for its fourth fund, about 75% of which From institutional investors such as endowments. The report said the institutional backing differs from the firm’s $175 million fund in 2018, which was largely funded by deep-pocketed crypto investors.

The report, citing an unnamed source, said Pantera expected the fund to close at $1 billion by the end of March. The fund will invest in projects, protocols or companies in venture equity, crypto tokens that have been launched and tokens that are under development.

In 2003, Dan Morehead of Tiger Management founded Pantera as a global hedge fund. Ten years later, the company has shifted its focus to digital currencies. The company has supported more than 80 blockchain companies and 65 early token transactions, including payment company Circle, encryption trading platform Coinbase and XRP parent company Ripple.

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