News
Pantera Capital will invest $200 million in the intersection of artificial intelligence and blockchain technology
Quick entry:
- Cosmo Jiang, portfolio manager at Pantera Capital, believes that every cryptocurrency company will soon become an AI company.
- Jiang told DL News that he is actively looking for projects that leverage artificial intelligence to power blockchain businesses.
- The firm counts cryptocurrency exchanges Coinbase and Bitstamp among its portfolio companies along with stablecoin issuer Circle.
Pantera Capital has revealed that it is raising $1 billion for a new fund that will see up to 20% of the fund ($200 million) dedicated to artificial intelligence projects.
According to Cosmo Jiang, portfolio manager at Pantera Capital, every cryptocurrency company will soon be an AI company. Jiang’s Web3 venture capital firm has been one of the most active in the cryptocurrency space investing in cryptocurrency exchanges Coinbase and Bitstamp along with stablecoin issuer Circle.
The company has also been keen to invest in the intersection of artificial intelligence and blockchain technology, recently co-led a $25 million Series A round for Nexus Laboratoriesthe Web3 company that uses blockchain technology to help AI agents verify data.
Jiang describes how he sees the future of artificial intelligence in cryptocurrencies he told DL News: “In ten, fifteen, twenty years everyone will be using artificial intelligence.” According to Jiang, telling people that you invested in an AI company “would be as stupid as saying ‘I’m investing in a company that has a website’.”
Jiang’s strategy for the intersection of artificial intelligence and blockchain technology involves identifying projects that use artificial intelligence to improve blockchain businesses or those that use blockchain technology to improve AI-based businesses.
Jiang even went so far as to use OpenAI and Sam Altman’s Worldcoin as the best examples of AI and cryptocurrency companies that could be synergistic if they coexisted as one.
OpenAI has disrupted the AI industry with generative AI, while Worldcoin wants to become the leading privacy-preserving financial and human identity network.
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