Pantera Capital Aims to Raise $1 Billion for New Fundraising Campaign
Pantera Capital, a prominent crypto investment firm, has announced its plan to raise new fund amounting to $1 billion. The objective of this fundraising effort is to fresh capital into the rapidly growing crypto industry. Of the total fund, over $200 million will be specifically allocated for investments in artificial intelligence (AI) projects.
Cosmo Jiang portfolio manager at Pantera Capital, stated in a recent interview with DL News that he firmly believes will become an integral part of every crypto company’s operations in the future. Drawing a between investing in an AI firm and investing in companies with websites during the early days of the internet, Jiang predicts that AI into businesses will soon become standard practice.
Consequently,tera Capital is actively seeking projects that leverage AI to enhance blockchain businesses or vice versa. With notable investments already made in major companies such as Coinbase, Circle, and Bitstamp through their fund, Pantera Capital aims to dedicate a significant portion of their new fund towards supporting AI-related blockchain projects.
While their previous fund allocated around 15% to 20% of its capital for such projects, Jiang expects an even higher allocation from this new venture. If this trend continues throughout the decade, Pantera Capital could invest over $200 million into AI-adjacent crypto projects.
The convergence of AI and blockchain technologies has considerable attention due to its potential economic impact. It is projected that by 0 these technologies could contribute about $20 trillion globally. Investors have already poured more than $98.8 million into this sector since the start of 2024.
Furthermore, there has been significant interest from Bitcoin miners who are exploring opportunities to provide processing power for training AI tools used by Silicon Valley giants. This indicates growing recognition among industry players regarding the potential benefits arising from integrating AI and blockchain technologies.
In addition to Pantera Capital’s efforts and ambitions within this space,
Brevan Howard
is another hedge fund manager actively exploring opportunities related to it.
Meanwhile,
SingularityNET,
Fetch.ai,
and Ocean Protocol
announced plans for a merger involving their respective crypto tokens.
The primary goal behind this merger establishing a decentralized platform for artificial superintelligence (ASI) while promoting collaboration among these three companiesAn official announcement regarding these plans is expected soon after approval from each community involved.
The merged entity would be called Superintelligence Collective while maintaining separate operations under each company’s guidance.
However,
some experts express caution about certain aspects related to AI-related crypto tokens.
Leading exchange platform Coinbase recently released a research report suggesting that speculative hype might drive up values more than actual utility when it comes to these tokens.
This report emphasizes that many such tokens may face challenges due to current market conditions and may lack sustainable demand drivers in both short-term and medium-term scenarios.
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