Pantera Capital Raises $70 Million for New Fund, Aims for $175 Million

The blockchain investment company has a fair track record of successful investments.

Panetera Capital, a blockchain investment fund with a fairly good record of choosing successful projects, has launched a new venture fund. According to TechCrunch, it aims to raise up to $175 million.

63 investments

According to documents filed with the US Securities and Exchange Commission on Tuesday, ‘Venture Fund III’, as the new fund has been named, has raised $71.44 million from 90 investors since the 31st of July. This is the company’s third such investment fund. In 2016 it raised $13 million for ‘Venture Fund II’, and in 2017 it raised $25 million for ‘ICO Fund’.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

California-based Pantera Capital was founded in 2013. It boasts of being ” one of the largest institutional owners of cryptocurrencies” and has invested in projects like 0x, Ripple, Kin, and a little-known cryptocurrency called Bitcoin. All in all, 63 projects are listed on its website.

In February, Finance Magnates reported when Pantera Capital invested in a project called Cypherium.

Rats and poison

Venture Fund III has already invested in Bakkt, which is an online trading platform launched by Intercontinental Exchange, which is the company behind the New York Stock Exchange. Pantera said in a statement at the time: “The potential ripple effect of Bakkt’s success could reverberate across the Blockchain ecosystem by expediting commercial use and widespread institutional adoption.”

Pantera CEO Dan Morehead said in July that the company has made net returns of just over 10,000 percent in fees and expenses since opening. Morehead, a cryptocurrency advocate, responded with pith to Warren Buffet’s comparison of Bitcoin to rat poison: “It is rat poison; it’s just the banks and credit card companies are the rats.”

Got a news tip? Let Us Know