Pantera Capital To Raise Up To $175 Million For New Fund
August 16, 2018
Venture crypto firm Pantera Cap. plans to raise around 175 million dollars for another venture fund for crypto industry and distributed ledger which proves its significant success amid other projects.
Paul Veradittakit, a partner to Pantera Cap., said:
“[The target amount is a] function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”
For now it is unclear whether the company will raise the necessary sum. Meanwhile, according to the Pantera Cap. official papers, the company has already attracted investments of more than $70 million from 90 investors which was called the first close.
Note that one of the new funds by Pantera Cap. launched in 2017 has got a hedge fund structure and is focused on ICO. The founder of Pantera Cap. Dan Morehead used to say earlier, the company takes part in initial stages of these ICOs while “basically getting a discount to the ICO price by getting in early, when it’s just a team and a white paper.”
The second fund operates with invesments in the major cryptocurrency and for the five years it has been functioning it has proven to be reliable and gaining profits of more than 10,000%.