Pantera Capital it intends to raise up to $175 million for its third venture Fund focused on the field of blockchain and cryptocurrency that marks the significant progress against two of the other funds of the company: assets first $13 million, the second $25 million.
Partner Paul Verdict stated that the target amount was calculated based on “the speed of development of this space, coming to his talents, opportunities, and relative size of the campaigns”. “In the field we are interested in are investments in the later stages, therefore we want to have flexibility and be able to move with the market,” he said.
Can the firm achieve its goal of attracting funding, is unclear. According to documents recently submitted to the Commission on securities and exchange Commission (SEC), she has managed to collect over $71 million with the participation of 90 investors. Verdict calls this event the “first closing transactions”.
One of the new Fund company, opened last year, has the structure of a hedge Fund and focuses solely on ICO. Founder Dan Morehead said earlier that Pantera participates in the early stages of these campaigns, “receiving a discount of the price of ICO for their early participation when the project has only team and white paper”.
The second Fund of the company invests in bitcoin and during its existence has managed to serve a large number of investors. According to the estimates of Morehead, launched 5 years ago, the Fund showed a yield of 10 136%.
The last Pantera Fund invests in cryptocurrencies, which are already traded on exchanges. It uses machine learning to algorithmic investing and takes into account the views of the company’s management in making investment decisions.
“Are you sure that bitcoin will remain the dominant cryptocurrency, or are interested in other possible scenarios of its use, or want to have a more diversified portfolio of assets that are not correlated with bitcoin or, perhaps, show even higher returns, because they have a lower market value,” explained Verdict last appointment of the Fund.