Pangea Blockchain Fund (PBF) has secured $22 million in seed funding with leading investors, including Bitcoin.com CEO Roger Ver and Copernicus Asset Management, with aims to finance the inauguration of its transformative blockchain solutions.
PBF expects fundraising to cap at $200 million. The seed funding breakdown for this round has not been disclosed.
Fellow Swiss-based financial services group Copernicus is also acting as investment manager for PBF. PBF’s Swiss-based investment adviser, Blockchain Investment Advisory Sagl (BIAS), is led by established asset management and blockchain industry veterans including founders James Duplessie and William Duplessie.
PBF is known to focus on providing intellectual and financial support to early-stage blockchain startups it feels are “exceptional”. It also bases its “investment thesis” on the grounds that blockchain will “fundamentally alter the way society collaborates, transacts, governs and brings new concepts to life,” stated BIAS’ James Duplessie in PBF’s press release (Feb 27).
In addition to BIAS, PBF has a US-based sub-adviser – Blockchain Investment Advisory LLC. Together, the teams will position PBF “at the forefront of tech discoveries reshaping the world’s economic and social infrastructure”, the press release added.
Despite an ongoing weak crypto market, blockchain related funds have been able to continue raising significant capital lately. In the past few days alone, there has been news that crypto hedge fund Pantera Capital raised $130 million in for its third venture fund, while US-based crypto startup Curv has raised $6.5 million, reported Cointelegraph.