Venture capital firm Pantera Capital successfully acquired an undisclosed quantity of discounted Solana tokens in a recent auction conducted by the bankrupt managers of FTX exchange.

While detailed auction specifics are undisclosed, Pantera Capital, alongside industry leaders like Galaxy Digital, had previously made substantial investments in SOL tokens, amounting to approximately $1.9 billion earlier this month. Notably, these tokens were obtained at a discounted rate of $64 each, a significant markdown from prevailing market prices.

These acquisitions are not surprising, given reports that Pantera was seeking funds last month to purchase up to $250 million worth of locked Solana tokens.

Pantera's strategic decision to invest in Solana is proving advantageous amidst the digital asset's improved price performance and adoption over the past year. The venture capital's Liquid Token fund witnessed impressive 66% growth in the first quarter, attributed to investments in Solana and other promising altcoins like Ribbon Finance, Aevo, and Stacks.

Meanwhile, FTX's repeated sales of digital asset holdings from its bankruptcy estate have drawn criticism from creditors, who argue that these sales have negatively affected the value of their holdings. Consequently, creditors are encouraged to participate in the bankruptcy estate's auction of its remaining Solana token holdings.

It remains uncertain whether FTX creditors were among the purchasers in this recent auction round.

Pantera's new crypto fund

In parallel, Pantera Capital is raising over $1 billion for its latest venture, the Pantera Fund V, a comprehensive investment vehicle for various blockchain assets.

The fund, as outlined on Pantera's official website, will distribute capital across venture equity, early-stage tokens, and liquid funds. This marks a departure from Pantera's previous offerings, such as the Liquid Token Fund and Bitcoin Fund, demonstrating a broader investment strategy.

Partners are expected to commit a minimum of $25 million, while qualified investors will have the opportunity to invest a minimum of $1 million.