page contents Crypto hedge fund Pantera Capital files for massive $134 million raise – The News Headline

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

In a submitting with the SEC the day before today, Bitcoin hedge fund massive Pantera Capital introduced an fairness providing of as much as $134 million — a number of the greatest capital fundraising efforts within the seven yr historical past of the company. 

Shaped in 2013 because the first-ever Bitcoin fund in the USA, Pantera first of all raised a relatively measly $13 million, and later $25 million, in step with reporting from Cointelegraph.

However in 2018, the fund directed its efforts against a bigger elevate that will consequence within the formation of a 3rd funding fund, dubbed Mission Fund III. This new fund attracted $164 million from 2018-2020, with the majority of the capital inflows bookending crypto’s dreadful 2019 yr.

Now, as crypto turns out poised to go into but any other raging bull marketplace, the SEC submitting signifies that Pantera has giant plans forward. 

Whilst there was no phrase to whether this new elevate will lead to a brand new fund or just enlarge the scope of Mission Fund III, Pantera’s newest investments and government feedback would possibly be offering hints at its drawing close technique.

In an interview with Contelegraph, Pantera CEO Dan Morehead stated he believes the expansion of decentralized finance has the prospective to outstrip Bitcoin’s upward thrust, and that the company is focusing their new bets at the rising monetary vertical. Moreover, Pantera turns out to have their eye at the increasing cryptoasset derivatives marketplace, as proven through a up to date funding in derivatives platform Globe.

Bitcoin bulls shouldn’t really feel scorn through the hobby in DeFi and derivatives, alternatively. Morehead has additionally prior to now made a moonshot worth goal for the most important cryptocurrency, as he as soon as referred to as for a Bitcoin worth of $350,000.

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