Pantera Capital, a Crypto hedge fund-focused investment firm, has sealed USD125 million for its third Cryptocurrency venture fund that is aimed to invest in companies which have been in the Crypto space for a while. It was reported that the investment firm had secured USD13 million, growing to USD25 million for its second round. It was also reported that the firm, in August 2018, raised the game for its third offering, with saying that the USD175 million targets were a function of how fast space is moving, talent is coming in, the opportunities, and the size of rounds.
Pantera Capital’s new fund is set to focus on investing in later stage rounds to assist the more mature businesses in the space. Pantera’s partner noted that the approach is set to enable the firm to take a dynamic role in fostering up the companies. Particularly, the fund has aimed to invest between USD3 to USD8 million for equity stakes of as much as 15 percent in follow-on funding, and between USD1 and USD3 million for equity of 10 to 20 percent at the seed stage. The company’s first two funds have invested in 44 companies, and the third one is now set to invest in 30 to 50 firms. The hedge fund has notably invested in Bakkt, new Intercontinental Exchange’s venture into the space of Cryptocurrency.
Last year, Pantera Capital Co-chief Investment Officer, Joey Krug has claimed the next Cryptocurrency Bull Run could see a 10x increase in the Cryptocurrency space. Moreover, the company has notably asserted that Bitcoin will reach USD 67,500 by the end of this year. Additionally, it was reported in last August that Pantera has also been developing nontraditional venture funds for crypto investors like an investment strategy with input from Machine Learning and a hedge fund that focuses on initial coin offerings (ICO).