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In spite of the crypto market’s recent bearish tendencies, Pantera Capital is looking to gather $175 million in funding from long-term investors.

The investment firm wants to offer investors that are looking to buy in the dip and remain invested in the long run. So far they have managed to collect $100 million in a VC-like funding round and has already put in some of those earnings in a start-up named Bakkt, which has backing from notable businesses including Intercontinental Exchange, Starbucks, and Microsoft.

This is the company’s third and its largest of its funds, having started two previous funds. The first one was worth just $13 million, while the second one was worth $25 million.

It was revealed in a SEC disclosure document filed this week that the firm already managed to raise $71 million. The executives at Pantera estimated that the total sum is actually nearing $100 million. This suggests that US investors still believe in the cryptocurrency sector and will keep on investing in spite of the market dip. Seeing as Bitcoin and the other altcoins have had an amazing increase in the past, a decline in prices is an investment opportunity worth taking advantage of.

Pantera already has 140 investors that have contributed to the fund by now. Having an investment period of 10 years, the fund lets investors buy equity into the blockchain company, rather than just acquiring the coin itself.

Paul Veradittakit, a Pantera partner explains:

“We’re seeing a shift in momentum. We’re seeing a lot more interesting VC deals, and more equity deals this year than ICO deals.”

He also noted that first-time investors view the bearish market as an opportunity to buy at lower prices. Bakkt, one of the firm’s most recent endeavors, will purportedly be focused on allowing retail consumers and institutions to transact with digital currencies by fall 2018.

The most recent fund comes at a time when investors’ trust in initial coin offerings (ICOs) is pretty low, as they have become too risky. While there are some projects with genuine potential out there, many of them turned out to be complete frauds.

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