Crypto venture capital firm Pantera Capital is raising funds to invest in The Open Network (TON).
This move shows that the firm remains confident in TON's potential following its initial investment in this token.
The new fund, simply called the “Pantera TON Investment Opportunity,” is currently in the process of raising capital to purchase additional TON tokens. In an email sent to potential investors earlier this week, an invitation was made to participate in the upcoming investment round.
To secure an allocation in the fund, interested parties have been asked to express their interest through a form by June 21. The form stipulates a minimum investment requirement of $250,000 per backer.
This latest venture comes on the heels of Pantera's largest investment in TON since the firm's founding in 2003. Although the terms of the deal were not disclosed at the time, it was revealed that the investment was made in the TON token at a significant discount to the spot price in March. The investment was officially announced by Pantera in May.
With this reinvestment effort in TON, Pantera Capital reveals its bullish stance on the token's future. “We believe the TON network is still in its early stages and are excited to witness the adoption of its ecosystem and new features by the Telegram user base,” Ryan Barney, a partner at Pantera, said in a statement last month.
*This is not investment advice.
