The monstrous grossing could be an indication that the company’s ambitions are increasing due to the rise in the price of Bitcoin.
In a filing with the SEC yesterday, Bitcoin hedge fund giant Pantera Capital announced a share offering of about $ 134 million, maybe one of the largest equity fundraising efforts in the seven years of History of the company.
Pantera Capital saw the light in 2013 as the first Bitcoin fund in the United States, Pantera initially raised a paltry $ 13 million and then $ 25 million, but the fund focused its efforts toward a larger increase with better probabilities to lead to the formation of a third investment fund, called Venture Fund III in 2018. This new fund attracted at least $ 164 million between 2018 and 2020, and most of the capital inflows concluded the disastrous 2019 of cryptocurrencies.
Now, as cryptocurrencies appear to begin another big bull cycle, the SEC filing indicates that Pantera is fishing big plans for the future.
While there has been no word on whether this new increase will result in a new fund or simply expand Venture Fund III’s reach, the latest investments and commentary from Pantera executives could offer clues to its next strategy.
Pantera CEO Dan Morehead said in a recent interview that he believes that in the growth of decentralized finance resides the potential to outpace the rise of Bitcoin and that the firm is focusing its new bets on the emerging ecosystem. Additionally, Pantera appears to have plans on the crypto derivatives market, as evidenced by a recent investment in derivatives platform Globe.
However, Bitcoin bulls shouldn’t look down on interest in DeFi and its derivatives. Morehead also previously set a wonderful price target for the largest cryptocurrency as it predicted a $ 350,000 price for Bitcoin before.
As the first U.S. Bitcoin investment firm, Pantera Capital is the leading blockchain investment firm and one of the largest institutional owners of cryptocurrencies. Its primal mission is to act as the catalyst for widespread blockchain adoption.
Pantera is focused on investing in blockchain technologies; the Pantera team is experienced in both traditional finance and emergent blockchain technology. By keeping strong relationships and bonds with some of the most promising entrepreneurs and other top investors in the space, Pantera is fulfilling and setting its amazing investment philosophy by building a diversified portfolio and bringing industry-specific value-add resources to its portfolio companies.
By: Jenson Nuñez.
