The blockchain investment firm is planning to raise a total of $ 175 million from cryptocurrency investment venture named Panthera Capital Venture Fund III. The fund has earned more than $ 71 million from 90 investors.
As claimed by to TechCrunch, $ 175 million increase is a major leap from its previous venture fund, in which it raised $ 25 million in its first venture fund, closed in 2013, Pantera raised $ 13 million.
Pantera Capital disclosed their plan through a blog post, that its Venture Fund III has already received its first investment: Bakkt, the Company Intercontinental Exchange (ICE), owner of New York Stock Exchang, launched in partnership with the giant Microsoft and Coffeehouse chain series Starbucks.
The partner with firm, Mr. Paul Veradittakit said, looking to increase the amount of Panthera, it’s a “task” that the space is moving fast, the talent, the opportunity, and the size of the round is coming. ”
Morehead has in the past made a very bullish bitcoin price prediction, as he stated the flagship cryptocurrency is going to reach $67,500 by the end of 2019. At press time, the cryptocurrency is trading at $6,400.
Pantera Capital’s Hedge Funds
Pantera Capital, established in 2013, is adding various investment strategies. Per TechCrunch, it manages its enterprise fund, structured like traditional venture fund, with three hedge funds: an ICO-centric fund, bitcoin-centric fund, and an altcoin-focused fund.