Pantera Capital Raises $71M in Third Crypto Fund; NYSE's Bakkt is First Investment

Third Crypto Fund From Pantera Capital, Venture Fund III, Already Has 90 Investors And Over $71 Million

Pantera Capital is becoming known for their constant efforts to develop cryptocurrency funds, and they have recently launched their third one. There was recently a new filing that the company sent to the U.S. Securities and Exchange Commission (SEC) on Wednesday to announce the project, which is titled Venture Fund III.

Venture Fund III launched their first offering, eliciting the investments from 90 investors so far, of which their contributions amount to $71.44 million. However, the one thing missing from this announcement is how much Pantera wants to add to the fund at this point with new investors. One report by TechCrunch suggests that the firm wants to more than double that, reaching $175 million. At this point, Pantera has not confirmed that goal.

If they manage to reach this lofty goal, it will be the highest number they have accrued. In fact, Venture Fund II only earned $13 million in 2016, while the ICO Fund only reached $25 million, which means that Venture Fund III is already more lucrative than these funds combined.

With their available investments, Pantera Capital issued a blog post on Medium that the fund has already decided to invest in Bakkt. Bakkt is the trading platform initiated by the parent company of the New York Stock Exchange called ICE. This makes them a founding investor of the new project, which is hardly the first time, considering that they have been involved in the crypto exchange industry for about five years.

During Pantera Capital’s lifespan, they have recorded over 10,000% in returns alone. Some of their most popular investments have been with Bitstamp, Korbit, Circle, and even Ripple. Based on the performance of these platforms, consumers should have faith in the way that the company is controlling their investments, both incoming and outgoing.

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Bitcoin Exchange Guide News Team
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