Pantera Capital Earmarks $200M to AI Projects

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Pantera Capital Earmarks $200M to AI Projects

Cryptocurrency hedge fund Pantera Capital is set to secure $1 billion in funding out of which it plans to allocate $200 million to developing its Artificial Intelligence (AI) arm.

According to a report from DL News, Pantera Capital’s Portfolio Manager Cosmo Jiang said every crypto firm will soon become an AI venture. Therefore, investing in an AI firm “will be as stupid as saying ‘I’m investing in a company that has a website’.”

Pantera Capital Seel AI-related Blockchain Projects

As the company’s portfolio manager, Jiang’s responsibilities include prospecting for clients, identifying potential investment opportunities, and conducting risk management amongst others. With the newly found AI passion of the hedge fund, Jiang claimed to be actively looking for projects using AI to boost blockchain businesses or vice-versa.

He also mentioned an earlier fund that injected about 15% to 20% of the entire capital into AI-linked blockchain projects. The Pantera Capital executive expects that a higher percen... shares this Content with Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) License.

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Pantera Capital Earmarks $200M to AI Projects