Pantera Working to Raise $175 Million for New Blockchain Venture Fund

Crypto-focused investment firm, Pantera Capital, has stated that it is hoping to raise $175 million for its next venture, and are reportedly more than half-way there already.

Being at the forefront of cryptocurrency advancement is expensive work, just ask Paul Veradittakit, firm partner at Pantera Capital. According to Tech Crunch, one of the industry’s biggest investment firms is looking to raise a total of $175 million in its latest round of fundraising.

This is seven times more than its previous venture fund, which was set at $25 million, which itself was nearly double the amount of its first fund of $13 million. Veradittakit says that this upward trajectory is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Pantera Seems to Be on Track

While this number may seem astronomical, a report by the US Securities and Exchange Commission (SEC) dated the 15th of August shows that the firm has already raised over $70 million from 90 investors. However, according to CNBC, that total is actually closer to $100 million. The date of the first sale is listed as the 31st of July.

Pantera has a range of investment options for those interested in the cryptocurrency market. One is a fund dedicated to ICOs. Another is the firm’s Bitcoin Fund, which made headlines at the end of last month when Pantera announced lifetime returns of over 10,000%.

Another fund deals with investing in existing exchange-listed cryptocurrencies through ML-based algorithms and actual input from some of the firm’s main members.

Veradittakit explained that this could be a good option if:

…you aren’t sure that Bitcoin will remain the dominant cryptocurrency, or you’re interested in other use cases that may arise, or you just want to build a diversified portfolio of assets that have asymmetrical returns as bitcoin, or maybe return even more because they feature lower valuations.

Pantera has invested in plenty of well-known platforms in the industry including Ripple and Circle. Veradittakit added that:

[Pantera has invested in] lots of wallets and exchanges focused around the world, in Coinbases of different geographies, in enterprise-related blockchain companies. More recently, we’ve funded everything from big data to decentralized application platforms.

Shifting Focus

The newest venture fund is more focused on blockchain technology or more specifically, receiving equity in blockchain companies. Veradittakit touched on this new direction a bit:

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.

The firm’s CEO, Dan Morehead, recently reiterated his belief in Bitcoin stating that while the price is low now, this won’t always be the case. He added that Bitcoin could grow quite significantly “a year from now”.

Do you think Pantera Capital will reach its $175 million goal? Let us know in the comments below!

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Cryptocurrency Firm Pantera Capital Seeks $175 Million For Third Venture Fund

cryptocurrency hedge fund pantera capital

Pantera Capital, which has pioneered investments in cryptocurrency assets, has set its goal for its third venture fund at $175 million, surpassing the $25 million raised for its second fund and the $13 million from its first one, according to TechCrunch.

A new filing for a Pantera venture fund offering with the Securities and Exchange Commission notes the company has raised $71.445 million in commitments from 90 investors. The new offering, which began on July 31, 2018, will last more than a year. Dan Morehead, the founder of Pantera Capital, is listed as an executive officer in the new filing, along with Matthew Gorham and Pantera Advisors LLC.

Paul Veradittakit, a Pantera partner, said the amount already raised represents the first close.

The filing, signed on Aug. 15, 2018 by Ryan Davis, chief financial officer, declined to disclose the revenue size of the company issuing the offering. No proceeds were proposed as payments to persons named as executive officers, directors or promoters of the new offering.

Also read: If bitcoin is rat poison, the banks are the rats: Pantera Capital CEO

Pantera Capital is focused exclusively on cryptocurrency and blockchain projects, as it sees blockchain as the next step in the evolution of equity, and as the “final piece” of the internet protocol. Morehead has said that investments in bitcoin can go up 25 times.

Pantera Capital’s funds typically have 30 different cryptos to offer exposure to a wide variety of assets.

The company’s investment strategy is to invest early in token sales of the most promising blockchain protocols as a way to maximize returns.

Veradittakit and other company officers stated in a recent conference call that institutional capital is on the way for cryptocurrency.

Morehead last year said an unnamed strategic investor and institutions and individuals interest in exposure to the crypto market had invested in the company’s bitcoin hedge fund, which has already invested in altcoin projects such as Civic, 0x, FunFair and OmiseGO.

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Pantera Capital Already Raises Over $70 Million for Its Third Crypto Fund

Pantera Capital, one of the largest US-based institutional holders of cryptocurrencies, has already raised more than $70 million for its third crypto fund. And the first investment by Pantera Venture Fund III went to Intercontinental Exchange’s Bakkt.

$175 Million Crypto Venture Fund

Pantera Capital Already Raises Over $70 Million for Its Third Crypto FundPantera Capital, a Menlo Park, California based cryptocurrency investment fund, is reportedly looking to raise up to $175 million for its third venture fund. This will make Pantera Venture Fund III much bigger than its predecessors, which were closed at just $25 million and $13 million respectively.

And SEC filings show the firm already got $71,445,000 in capital commitments from ninety investors. Pantera partner Paul Veradittakit told Techcrunch that this figure is just a “first close,” and explained that the much larger target amount is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Bullish on Bakkt

The company also revealed that on its blog that, Pantera Venture Fund III’s first investment “could result in one of the most important developments in blockchain history.” The fund is one of the founding investors in Bakkt,Pantera Capital Already Raises Over $70 Million for Its Third Crypto Fund the recently-announced subsidiary of the parent of the New York Stock Exchange — Intercontinental Exchange (NYSE: ICE).

Pantera Capital wrote: “The potential ripple effect of Bakkt’s success could reverberate across the Blockchain ecosystem by expediting commercial use and widespread institutional adoption. This is the first of several exciting projects the Pantera investment team has identified for Venture Fund III. In alignment with our Venture Funds I and II investment strategies, Bakkt, as well as the two other projects in our pipeline, reflect a continued focus on infrastructure.”

Last month it was reported that Pantera Capital has generated a more than 10,000% lifetime return since launching in 2013. Its past portfolio includes many exchanges such as Bitstamp, Bitoasis, Bitpagos, Bitpesa,, Coinsuper, Koinex, Korbit, Paradex, and Ripio.

Is this a sign that investors are expecting a strong market recovery? Share your thoughts in the comments section below.

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Source: News.bitcoin