Pantera Capital Aiming to Acquire $175M for Third Fund
According to reports, cryptocurrency hedge Pantera Capital is looking to raise $175M as a means of supporting and launching its third venture fund, six times the larger than its previous fund. The first fund launched by the company back in 2013 was worth $13M in which the company had raised and followed by the second fund at $25M.
Third Time Around
According to reports, Paul Verdittakit, a partner at Pantera, has stated that the latest target consists of the speed at which the environment is advancing, the emerging talent, potential and round sizing. He adds that the firm is also looking to be as flexible and adaptable as possible in regards to upcoming investments.
As a result of a submission by the US SEC has shown, the firm as so far managed to gather $71M in total from about 90 involved investors, around $100M short of its target goal. Pantera Capital has also been developing three cryptocurrency related solutions for investors attempting to enter the industry. One of these is an ICO-focused hedge fund which brings developers and investors together during the initial stages of any project and aiding them in performing within an unregulated environment.
Another one of the three approaches by Pantera is a fund that focuses on cryptocurrencies already posted and utilizes machine learning and data granted by fund partners to maximize financial contributions. Paul has stated that this venture fund is used for those that aren’t too faithful in Bitcoin maintaining its position as the leading coin, or those looking for potential use cases that may possibly emerge and more. Third and last, Pantera is continuously operating its BTC fund and a recent post from the company reportedly experiencing full returns of over 10K percent in total fees and charges.
Pantera boasts several investments in companies like Ripple, Xapo, ZCash, and others. As reports have indicated, Axoni, a blockchain project dedicating its focus on enterprises, witnessed a venture capital extraction in a Goldman Sachs funding of $32M and involved several venture capital companies like Wells Fargo and other elite banks.