Crypto venture capital firm Pantera Capital is making a significant bet on the future of the TON (The Open Network) token. The firm is raising funds for a new investment opportunity focused solely on the TON token, doubling down on its prior investment in the project.
Pantera’s New TON Investment Fund
According to an email seen by The Block, Pantera is inviting potential investors to participate in the “Pantera TON Investment Opportunity” fund. The goal of this new fund is to raise capital to purchase additional TON tokens. Interested parties have been requested to indicate their interest by June 21 to secure an allocation in the fund, with a minimum investment of $250,000 per backer.
This new fund comes shortly after Pantera made its largest-ever investment in the TON token earlier this year, which the firm says was “at a significant discount to the spot price.”
Bullish on TON’s Potential
Pantera’s decision to double down on the TON token suggests the firm is highly optimistic about the network’s growth and future prospects. “We believe the TON network is still in its early stages, and we are excited to witness the adoption of its ecosystem and new features by the Telegram user base,” said Ryan Barney, a Pantera partner.
TON Blockchain’s Rapid Growth
The TON blockchain, formerly known as the Telegram Open Network, has been experiencing impressive growth in recent months. The number of TON blockchain users and transactions has been surging, and the recent launch of Tether’s USDT stablecoin on the network has been faster than any prior blockchain, with over 400 million USDT in circulation in under two months.
Additionally, Telegram’s gaming mini-apps on the TON network have seen remarkable growth, with Notcoin reaching 35 million players and around 10 million daily active users within five months of its launch, and Hamster Kombat reaching 100 million players and between 40 and 45 million daily active users.
Pantera’s Broader Crypto Investment Strategy
Alongside the new TON investment fund, Pantera is also raising a $1 billion new crypto Fund V to invest in venture equity, early-stage tokens, special opportunities, and liquid tokens. The firm currently has nearly $5 billion in assets under management.
As Pantera continues to double down on the TON token and expand its broader crypto investment portfolio, the firm’s confidence in the long-term potential of the TON network and the wider digital asset ecosystem is evident.
