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Crypto Hedge Fund Pantera Capital Seals $130 Million for Third Crypto Venture Fund

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Crypto hedge fund Pantera Capital has already sealed $130 million out of a $175 million goal for its 3rd crypto undertaking fund. The building was once shared with Cointelegraph in non-public correspondence with Pantera president Bill Healy on Feb. 22.

For Pantera’s debut fund in 2013, the company had raised $13 million, emerging to $25 million for its 2d. As reported in August 2018, Pantera raised the sport for its 3rd providing, announcing on the time that the $175 million goal was once “a function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds.” Healy as of late advised Cointelegraph that:

“Blockchain venture equity continues to be very strong, both in terms of returns and deal flow.  Pantera’s first two venture funds, which were launched in 2013 and 2015, are currently valued at 7.2x and 2.8x, respectively.  [For the third,] we’ve raised $130mm of the $175mm fund in the previous closing. Venture Fund III will have its final close on March 28th.”

Pantera executives have prior to now disclosed that $100 million from 140 traders had already raised through mid-August 2018, in keeping with a CNBC report on the time. The fund reportedly has a decade-long funding duration, and provides traders fairness in a blockchain corporate in go back for his or her capital.

Healy printed the fund’s actions up to now, outlining that:

“Our 3rd blockchain undertaking fund has invested $30 million into 9 portfolio corporations.  Pantera was once joined through BCG and Microsoft as a founding investor in Bakkt, the newly shaped subsidiary of the dad or mum of the New York Stock Exchange (Intercontinental Exchange – NYSE: ICE). Pantera led the investment rounds in 5 offers, together with Blockfolio and, maximum not too long ago, Staked. Our investments in StarkWare and Synthetic Minds have additionally been introduced.”

As reported in August, Pantera has additionally been growing nontraditional undertaking finances for crypto traders, comparable to an funding technique with enter from device studying and a hedge fund that specializes in preliminary coin choices (ICO).

In December, the hedge fund published a e-newsletter caution {that a} quarter of its ICO initiatives may well be discovered to be in violation of United States’ securities rules, and would doubtlessly be pressured to pay off traders.

Pantera’s maximum recently led investment spherical, as Healy famous, was once in crypto staking startup, Staked — a undertaking that manages purchasers’ deposited and staked cryptocurrencies, which generate block rewards.

Whereas ICO investments might face the hostile affect of the cryptocurrency marketplace stoop and regulatory crackdowns, some have proposed that that proof-of-stake token investments may give a winning funding technique without reference to marketplace prerequisites.

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