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Pantera, a crypto investment firm, is preparing to raise more than $1 billion for a new venture fund, according to an email distributed on Tuesday.

The firm — which has backed crypto projects and companies ranging from the likes of Bakkt and 1inch — is one of the longest operating funds in the digital asset space, investing in crypto tokens and equity since 2013.

As per the memo, the new fund will invest in the equity of companies as well as tokens in projects, but Pantera plans to offer a venture-only class for investors looking for only equity exposure.

"For investors who prefer venture, the new fund offers a Venture-Only Class," the memo said.

It is essentially 'Pantera Venture Fund IV.'" The fund plans to take new investments for the fund until April.