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Pantera Capital Raised Another $5M For Its Bitcoin Fund

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Pantera Capital raised another $5 million for its Bitcoin fund and now they totaled to $134 million according to the Form D Filing with the US Securities and Exchange Commission so let’s read more in today’s Bitcoin latest news.

Crypto firm Pantera Capital raised another $5 million for its bitcoin fund and now reached $14 million. The company’s BTC fund was formed in 2013 which was the first-ever BTC-based fund. In an investor letter at the end of 2017, Pantera boasted 25,004% return on the fund due to the bitcoin bull run of that year.

The venture funds of Pantera hadn’t fared well in comparison to the S&P500 according to the latest data. The venture funds Pantera Capital raised in 2013 and 2014 returned 46% and 15.9% from their foundation to September 2019.

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As previously reported, The San Francisco-based blockchain investment company Pantera Capital raised $165 million in a recent filing with the US Securities and Exchange Commission for its crypto hedge fund. The crypto fund dubbed the Venture fund III was launched in 2018 and the reports suggested that Pantera targeted a total of $175 million. By August the same year, the company raised about $71 million from the investors according to a Form D filing with the SEC.

The next filing with the US regulator was back in 2019 and confirmed that the company raised $96 million which is a 35% increase in only one year. Form D reveals that the revenue of the fund grew by about 130% hitting a total of $164 million in about two years which is not far from the original target. In a discussion about the market position of the company earlier this year in an interview with Thinking Crypto, Dan Morehead, the CEO of Pantera Capital said that Ethereum and bitcoin are the company’s biggest positions.

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Morehead who remains bullish on Bitcoin and predicted back in March that the number one asset will hit an all-time high in a year, also noted that the company has major positions in assets such as 0x, Polkadot, and Augur. Pantera led a $2.6 million funding seed round earlier this year for the decentralized derivatives exchange protocol on Binance Labs in order to expand the booming sector beyond the ETH network.

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Source: https://www.dcforecasts.com/bitcoin-news/pantera-capital-raised-another-5m-for-its-bitcoin-fund/

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