Pantera Capital, a leading investment firm, is set to create a new fund aimed at investing in the Solana blockchain, which will become the largest of its kind.
Plans for Solana Co.
According to people familiar with the matter, Pantera Capital plans to convert an existing publicly traded company into a new entity focused solely on Solana, tentatively named Solana Co. The fundraising is planned in two phases: an initial $500 million round followed by $750 million raised through warrant issuance.
Movement Towards Treasury Creation
Pantera’s efforts align with initiatives from other major players, such as Galaxy Digital and Jump Crypto, who are in talks to raise $1 billion for a joint Solana treasury initiative. These developments indicate that large-scale corporate treasuries are becoming a trend beyond early movers like MicroStrategy with Bitcoin.
Expansion of Pantera's Active Portfolio
This isn’t Pantera’s first treasury experiment. Earlier this month, the fund revealed more than $300 million in commitments to digital asset treasury firms. Pantera argues that treasury strategies offer an edge over simple token holdings, potentially increasing net asset value per share.
If successful, Pantera Capital’s $1.25 billion Solana Co. could mark a significant shift in institutional investors' perception of digital assets.
