Pantera Capital Targets $1 Billion with New Fundraising Effort

cryptonews.com:

Crypto investment firm Pantera Capital has set its sights on raising a new fund of $1 billion to inject fresh capital into the crypto industry.

According to Cosmo Jiang, the portfolio manager at Pantera Capital, over $200 million of the fund is earmarked for investments in artificial intelligence (AI) projects.

In a recent interview with DL News, Jiang said he believes that in the future, every crypto company will incorporate AI into its operations, making it a ubiquitous technology.

He compares investing in an AI firm to investing in a company with a website, stating that it will become a standard practice for businesses.

As a result, Pantera Capital is actively seeking projects that leverage AI to enhance blockchain businesses or vice versa.

Pantera Capital, whose portfolio includes major companies such as Coinbase, Circle, and Bitstamp, aims to allocate a significant portion of the new fund to AI-related blockchain projects.

Their previous fund invested approximately 15% to 20% of its capital in such projects, and Jiang expects the new fund to allocate even more.

If the trend continues, Pantera Capital could potentially invest over $200 million in AI-adjacent crypto projects throughout the rest of the decade.

While Jiang does not confirm a specific figure, he considers it a reasonable estimation.

The intersection of AI and blockchain technologies has garnered significant attention, with predictions suggesting it could contribute around $20 trillion to the global economy by 2030.

Investors have already poured over $98.8 million into the sector since the beginning of 2024.

The total market value of AI tokens has reached $26 billion, and Bitcoin miners are exploring opportunities to provide processing power for training AI tools