Cointelegraph writes that the volume of funds raised by venture capital firm Pantera Capital in a fund aimed at investing in Web3 startups has reached $1.3 billion, according to a conference held for the company’s clients.

By November 2021, the structure had attracted a targeted $600 million. At the time, the company expected funding to rise to $1 billion by March 2022.

Blockchain Fund funds will be used to purchase stocks, liquid tokens and coins before they are listed on exchanges.

“In the next three to four weeks, we will close the opportunity to invest in the fund as due diligence procedures have been completed by some major institutions.”said Dan Morehead, CEO of Pantera Capital.

The top manager said that from now on, a subscription to Blockchain Fund II 2023 will be opened, and the structure will be similar to the previous one in terms of investment policy.

The company also announced the launch of the Pantera Select Fund in early May, with a target volume of $200 million. Over the next 18 months, the fund will select approximately 10 mature, income-generating projects for investment. Its focus is infrastructure, blockchain gaming, NFTs, metaverses, DEX and DeFi.

Recall that in February Morehead named cryptocurrencies as the best asset to save on savings. Prior to that, the CEO of Pantera Capital predicted that within 10-20 years, up to 50% of all transactions of one form or another would be made using Ethereum.

Previously, Haun Ventures raised $1.5 billion in two Web 3.0-focused crypto funds. The firm is associated with former Andreessen Horowitz general partner Cathy Haun.