Crypto Fund Pantera Seeks to Raise Up to $1.25 Billion for Solana Deal

Crypto fund manager Pantera is seeking to raise as much as $1.25 billion to convert a public company into a solana investment firm, as a flood of companies race to cash in on the latest hot crypto sector.

Pantera, founded by Dan Morehead, a former trader at Goldman Sachs and Tiger Global Management, is one of the largest and oldest crypto asset managers. It manages about $5 billion in assets across different funds. The firm is now leading an effort to invest in a Nasdaq-listed company, which it will use to buy and hold solana, according to two people familiar with the matter. The identity of the public company couldn’t be learned.