Saturday, November 28

Crypto hedge fund Pantera Capital files for massive $134 million raise

In a documenting with the SEC yesterday, Bitcoin hedge fund goliath Pantera Capital reported a value offering of up to $134 million — among the biggest capital fundraising endeavors in the long term history of the firm.

Shaped in 2013 as the first-since forever Bitcoin fund in the United States, Pantera at first raised a similarly measly $13 million, and later $25 million, as indicated by revealing from Cointelegraph.

Yet, in 2018, the fund coordinated its endeavors towards a bigger raise that would bring about the arrangement of a third speculation fund, named Venture Fund III. This new fund pulled in $164 million from 2018-2020, with the main part of the capital inflows bookending crypto’s loathsome long term.

Presently, as crypto appears to be ready to enter one more seething buyer market, the SEC recording shows that Pantera has huge prepares.

While there has been no word as to if this new raise will bring about another fund or basically grow the extent of Venture Fund III, Pantera’s most recent speculations and leader remarks may offer clues at its approaching methodology.

In a meeting with Contelegraph, Pantera CEO Dan Morehead said he accepts the development of decentralized account can possibly surpass Bitcoin’s ascent, and that the firm is zeroing in their new wagers on the arising money related vertical. Also, Pantera appears to have their eye on the extending cryptoasset subsidiaries market, as appeared by an ongoing interest in subordinates stage Globe.

Bitcoin bulls shouldn’t feel disdain by the interest in DeFi and subsidiaries, notwithstanding. Morehead has likewise recently made a moonshot value focus for the biggest cryptocurrency, as he once required a Bitcoin cost of $350,000.

Credit: Cointelegraph

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