Quick take:
The venture firm revealed in June that it was inviting investors to invest in a new funding round aimed at increasing its stake in TON.
Both funds were officially sold in July and were signed on November 27, the filing showed.
Pantera also invested in the Telegram-linked token in May, which it described as the biggest investment in its 21-year history without disclosing the amount.
Pantera Capital has raised $20 million to increase its investment in the TON token, documents filed with the Securities and Exchange Commission, showed on Monday. The announcement comes barely five months after the company said it was looking for investors to participate in a fundraising that seeks to buy more TON tokens.
According to a report by The Block, in June the firm was seeking a minimum of $250,000 from interested investors.
According to the filing, the sale for the two rounds closed in July and was signed on November 27. The venture capital firm is doubling down on its investment in the Telegram-linked cryptocurrency revealing in May that its investment in the TON token is the “biggest in its 21-year history.”
Although the latest fundraising paints a clearer picture of the amount it will be further investing in TON, Pantera did not disclose how much it invested in the token in May.
The TON token has been one of the best-performing cryptocurrencies in the market this year, rising from about $2.34 to trade above $8.00 between March and June, before pulling back to trade at about $4.70, amid reports in August that Telegram founder Pavel Durov had been detained and arrested in France.
Durov has since been released on bail, triggering a resurgence in the price of TON, helped by Trump’s victory in November.
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