Pantera Capital to Raise $125M

Closing funding round with $175M target amount is scheduled for March
22 February 2019   769

The company Pantera Capital has attracted $ 125 million investment for the opening of a venture fund focused on the blockchain and cryptocurrency, CoinDesk reported.

Closing funding round is scheduled for March. The target amount of the project is $ 175 million and, therefore, the company has already managed to collect most of the funds.

According to representatives of Pantera Capital, the company held negotiations with a multitude of investors, including institutionalists, endowments and pension funds.

The new fund plans to support from 30 to 50 companies. The previously created two Pantera Capital funds have so far invested a total of 44 projects.

Among the priority investment areas of Pantera Capital are custodial solutions, stock exchanges, asset management, institutional tools and infrastructure.

Pantera Capital takes part in the capital of the Bakkt cryptocurrency platform, service for institutional investors Staked, startups Synthetic Minds and Blockfolio.

70 Crypto Hedge Funds to Close in 2019

At the same time, the number of funds opened this year is not even half of the values of the past two years
05 December 2019   71

About 70 cryptocurrency hedge funds focused on pension funds, family offices and other large investors closed this year. It is reported by Bloomberg.

The diagram below shows that the largest number of such funds were launched in 2017 and 2018 (291 and 284, respectively):

Crypto Fund Launches by Year Plummet
Crypto Fund Launches by Year Plummet

At the same time, the number of funds opened this year is not even half of the indicators of the past two years.

Most funds this year appeared in North America (28) and Europe (23). Asian countries and other regions are significantly behind in this regard.

2019 Crypto Fund Closures by Region
2019 Crypto Fund Closures by Region

The market is definitely retail driven and will remain so for the foreseeable future.

Nic Carter

Co-founder, Coin Metrics.

Blockchain Capital's general partner Spencer Bogart has a different perspective. In his opinion, the institutionalization of the market continues.

Taking a step back, I think some would argue that the levels of institutional adoption are disappointing or underwhelming but, of course, this view depends entirely on expectations. To me, the fact that there is any institutional adoption for Bitcoin only 10 years into existence is a radical success and beyond what anyone could have imagined just 3 or 4 years ago.

Spencer Bogart

General partner, Blockchain Capital LLC