Pantera Capital, a leading hedge fund and venture capital firm focused on blockchain and cryptocurrency, has raised $20 million to invest in the layer-1 TON Blockchain and its native cryptocurrency, Toncoin.
According to documents filed with the United States Securities Exchange Commission (SEC) on Monday, Pantera Capital successfully raised funds from at least 29 investors through two separate investment vehicles.
The two funds officially launched in July, following a June outreach effort to potential investors. Investors were required to commit a minimum of $250,000 to participate.
It’s worth noting that Pantera Capital’s current investment in the TON blockchain represents a deliberate extension of its existing involvement with the Telegram-linked blockchain.
Notably, the venture capital firm has a pre-existing relationship with the blockchain, having previously demonstrated its confidence in TON blockchain’s potential for growth and innovation.
$20M Investment in TON
In May, Pantera Capital made a substantial investment in the TON blockchain. Although the venture capital firm opted not to publicly disclose the exact amount of the investment, it notably referred to it as the largest investment it has ever made throughout its 21-year history.
Significantly, Pantera Capital’s latest $20 million investment, which involved creating two new funds dedicated to investing in Toncoin, serves as a strategic expansion of its previous massive investment in the platform in May.
TON Blockchain Grows
Pantera Capital is not the only prominent firm to have established a strategic partnership with TON Blockchain.
In a significant development, the Telegram-linked blockchain platform entered into a landmark collaboration with Animoca Brands’ Mocaverse, a popular Web3 gaming and metaverse company, and the MOCA Foundation.
The partnership, forged in July, was aimed to seamlessly integrate the capabilities of the three platforms, boost interoperability, broaden the consumer network, and potentially revolutionize the blockchain industry as a whole.
The collaboration was believed to have played a significant role in the surge in trading activity on the TON blockchain at that time. Specifically, the platform’s trading volume experienced a remarkable 170.12% increase within 24 hours, reaching a staggering $218.92 million.
In a recent development, cryptocurrency exchange Gate.io revealed a substantial $10 million investment in the TON blockchain, which is aimed at bolstering Telegram-based projects.
