Panetera Capital, a blockchain investment fund with a fairly good record of choosing successful projects, has launched a new venture fund. According to TechCrunch, it aims to raise up to $175 million.
63 investments
According to documents filed with the US Securities and Exchange Commission on Tuesday, ‘Venture Fund III’, as the new fund has been named, has raised $71.44 million from 90 investors since July 31. This is the company’s third such investment fund. In 2016 it raised $13 million for ‘Venture Fund II’, and in 2017 it raised $25 million for ‘ICO Fund’.
California-based Pantera Capital was founded in 2013. It boasts of being ” one of the largest institutional owners of cryptocurrencies” and has invested in projects like , , , and a little-known cryptocurrency called Bitcoin. All in all, 63 projects are listed on its website.
In, Finance Magnates reported when Pantera Capital invested in a project called Cypherium.
Rats and poison
Venture Fund III has already invested in , which is an online trading platform launched by Intercontinental Exchange, which is the company behind the New York Stock Exchange. Pantera said in a statement at the time: “The potential ripple effect of Bakkt’s success could reverberate across the Blockchain ecosystem by expediting commercial use and widespread institutional adoption.”
has invested into , the digital asset exchange from . Co-investors include , , and other strategic investors. Represents a huge step in the evolution of cryptocurrency.
— Pantera Capital (@PanteraCapital)
Pantera CEO Dan Morehead said in July that the company has made net returns of just over 10,000 percent in fees and expenses since opening. Morehead, a cryptocurrency advocate, responded with pith to Warren Buffet’s comparison of Bitcoin to rat poison: “It is rat poison; it’s just the banks and credit card companies are the rats.”
Pantera Partner speaking alongside on blockchain governance and the future of regulation.
— Pantera Capital (@PanteraCapital)
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