Pantera Capital Raised MILLIONS For New Crypto Fund

Recently published public documents have said that the blockchain investment company Pantera Capital has launched its third digital currency fund with over $70 million being officially committed. The new investment fund, Venture Fund III begun its original offering on 31^st July this year. The filing was submitted to the U.S Securities and Exchange Commission (SEC) on Wednesday, 15^th August, where it was announced that the total amount committed was raised by 90 investors. Despite Pantera’s objective for the funding being a vague for the time being, a report published by TechCrunch quoted Paul Veradittakit who said that 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 too, we want to be flexible and able to move with the market.“

Rumours suggest that the company is currently looking to raise it up to $175 million. Previous fillings show that the company rose £13 million two years ago in 2016 and $25 million for the ICO Fund last year in 2017. In a recent article posted on Medium, Pantera Capital noted that it has recently invested in Bakkt, which is a recently launched cryptocurrency platform for trading. However, in the past, Pantera Capital invested in Brave (BAT), Enigma (ENG), Augur (REP) 0x (ZRX) and many more. The company is not continuing to run its main Bitcoin fund, which has allegedly seen a lifetime return of over 10,100,00% in net fees and expenses.