Crypto investment firm Pantera Capital has raised $600 million for its fourth fund with about 75% of the capital coming from institutional investors, according to coindesk.

Pantera expects the fund to reach $1 billion when it closes in March, citing an unnamed source. The fund will invest in venture equity, crypto tokens that have launched and tokens in development.

In September, Pantera raised $369 million for its then-new blockchain fund. The firm had $4.7 billion in assets under management as of August.

By Amy Liu