The third digital currency currency fund of Pantera Capital, the largest currency holding institution in the United States, has raised more than US$70 million. The first investment of Pantera Venture Fund III came from Bakkt of the Intercontinental Exchange.
Pantera Capital of Menlo Park, California is a digital currency investment fund that reportedly raised $175 million in its third venture fund. The financing amount of Pantera Venture Fund III is much larger than the previous two periods, which were only US$25 million and US$13 million respectively.
According to the application documents submitted to the SEC, the company has raised $71,445,000 from 90 investors. Pantera and partner Veradittakit told Techcrunch that this figure is only the "first closing" amount, and said that it is far greater than the target amount because the industry is developing rapidly, talent influx, opportunities, and financing scale. We predict that more people will be interested in investment in the later stage, and we want to be more flexible and keep up with the development of the market.
Optimistic about BakktThe company also stated on its official blog that Pantera Venture Fund III’s first investment “may be a highlight in the history of blockchain developmentâ€. One of the investors in this fund is Bakkt, a newly established subsidiary of the Intercontinental Exchange under the New York Stock Exchange.
Pantera Capital stated: “The chain reaction after Bakkt’s success will lead to the rapid development of commercial use and institutional applications, which will have a huge impact in the blockchain ecosystem. These are the first few discovered by the Pantera investment team in Venture Fund III. One of the exciting projects. Combining our Venture Funds I and II investment strategies, as well as two other ongoing projects, reflects the continued focus on infrastructure."
Last month, it was reported that Pantera Capital has generated more than 10,000% of revenue since its establishment in 2013. The past portfolio includes many exchanges, such as Bitstamp, Bitoasis, Bitpagos, Bitpesa, Coins.ph, Coinsuper, Koinex, Korbit, Paradex and Ripio.
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