Pantera Capital, a prominent cryptocurrency investment firm has raised $600 million for its new crypto-asset funds during its latest financing round, according to a tech news outlet The Information.
Key takeaways:
- About three-quarters of the $600 million haul was reportedly contributed by institutional investors, such as pension funds and sovereign wealth funds. This represents a stark contrast to the earlier investment round in 2018, where wealthy crypto investors accounted for the largest share of raised capital.
- The fund will be used to invest in venture equity, crypto assets, and up-and-coming blockchain projects that have tokens in development. The company is planning the fund to reach $1 billion in assets under management.
- Pantera was originally launched by Dan Morehead in 2003 as a global hedge fund but has later shifted its attention to digital assets. In 2013, Pantera became the first U.S. institutional asset manager to focus solely on blockchain.
- Pantera Bitcoin Fund was the company’s first crypto fund. It was established in 2013 and remains operational to this day. The minimum investment is $100,000 and is open to accredited investors from around the world.
- Pantera manages a diversified portfolio, including some of the most prominent ventures in the cryptocurrency sector, such as Bitstamp, Coinbase, Filecoin, Polkadot, XRP, to name just a few. In total, Pantera has backed more than 80 blockchain companies and 65 early-stage token deals.
