Pantera Capital, a U.S. hedge fund specialized in cryptocurrency investment, has closed about 10 deals in India, including one with crypto unicorn CoinDCX, Paul Veradittakit, a partner at Pantera, told The Economic Times.

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Fast facts

  • “We plan on doing a lot more (investments) in India,” Veradittakit said, adding that the region had good developer talent, and “macro factors bode well for crypto adoption.”
  • Pantera Capital recently led a $135-million funding round for crypto exchange CoinDCX. The fund’s portfolio spans multiple crypto unicorns and decacorns (private companies valued at $1 billion and $10 billion, respectively), including Alchemy, Coinbase, Circle and FTX.
  • In a blog post recently, Dan Morehead, the former head of macro trading at Tiger Global and founder and chief executive of Pantera Capital, announced it was raising $200 million for a dedicated crypto growth fund, Pantera Select Fund. 
  • Pantera is also expected to close its $1.3 billion Blockchain Fund next month, more than double the target of $600 million.
  • The Pantera Select Fund will focus on mature, revenue-generating companies and expects to disburse $20 million investments on average. It is set to close in May, Morehead wrote, and plans to invest in seven to nine companies, including another round in CoinDCX.

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