Pantera Capital Launches Third Crypto Fund with $71 Million from 90 Investors
Cryptocurrency-focused investment fund Pantera Capital has launched a third crypto fund with $71 million in capital already committed from 90 investors.
A Form D document filed with the US Securities and Exchange Commission on August 15 reports that an entity called Pantera Venture Fund III LP raised $71,445,000 from 90 accredited investors. Although Pantera declined to disclose how much capital the fund will seek, TechCrunch reported that the firm is aiming to raise $175 million in total.
Despite Pantera’s low performance figures for the first half of 2018, founder and managing director Dan Morehead claimed in an open letter commemorating Pantera’s 5-year anniversary that the fund had generated a lifetime return of over 10,000 percent.
Pantera unveiled the first investment for its new Venture Fund III in an August 15 blog post, revealing that the fund would be investing in Bakkt, a digital assets platform launched by NYSE parent company ICE earlier in August.
Among other investments, Pantera participated in a $45 million funding round for Oasis Labs, and committed multimillion dollar investments in Circle, Bitstamp, Ripple, Augur, ZCash and OpenToken.