In a submitting with the SEC yesterday, Bitcoin hedge fund large Pantera Capital introduced an fairness providing of as much as $134 million — among the many largest capital fundraising efforts within the seven yr historical past of the agency.
Shaped in 2013 because the first-ever Bitcoin fund in the USA, Pantera initially raised a comparatively measly $13 million, and later $25 million, in accordance with reporting from Cointelegraph.
However in 2018, the fund directed its efforts in direction of a bigger elevate that may consequence within the formation of a third investment fund, dubbed Venture Fund III. This new fund attracted $164 million from 2018-2020, with the majority of the capital inflows bookending crypto’s dreadful 2019 yr.
Now, as crypto appears poised to enter yet another raging bull market, the SEC submitting signifies that Pantera has massive plans forward.
Whereas there was no phrase as to if this new elevate will end in a brand new fund or just develop the scope of Enterprise Fund III, Pantera’s newest investments and govt feedback may supply hints at its forthcoming technique.
In an interview with Contelegraph, Pantera CEO Dan Morehead stated he believes the growth of decentralized finance has the potential to outstrip Bitcoin’s rise, and that the agency is focusing their new bets on the emerging financial vertical. Moreover, Pantera appears to have their eye on the increasing cryptoasset derivatives market, as proven by a recent investment in derivatives platform Globe.
Bitcoin bulls shouldn’t really feel scorn by the curiosity in DeFi and derivatives, nevertheless. Morehead has additionally beforehand made a moonshot value goal for the most important cryptocurrency, as he once called for a Bitcoin price of $350,000.