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Pantera Tells SEC Its Crypto Fund Has Raised Nearly $165M
Pantera has informed the SEC its crypto fund has received a total of $164.7 million from investors with portfolios worth over $5 million.
By Paddy Baker
Updated Sep 14, 2021, 9:44 a.m. Published Aug 17, 2020, 8:55 a.m.
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Institutions and the well-heeled have poured millions of dollars into a Pantera Capital fund, helping it more than double in size since it launched in 2018.
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- The Pantera Venture Fund III has received $164.7 million in private placements from just under 200 investors, according to a Form D filing with the U.S. Securities and Exchange Commission (SEC) Friday.
- That's nearly $60 million more than at the date of its last filing in 2019 and well over $93 million – double – what the fund had two years from when it first filed with the U.S. markets watchdog.
- Pantera declined to disclose the fund's revenue.
- A Form D exempts offerings directed at accredited investors from registering with the SEC
- Asset manager New York Digital Investments Group (NYDIG) has used this exemption for the three crypto funds it has launched just this year.
- But Pantera's filing, this year's as well as in previous years, has claimed a 3(c)7 exemption, meaning its offering is aimed at the higher-tiered qualified purchasers, or those with at least $5 million in investments.
- Pantera had originally hoped to raise $175 million for Venture Fund III and said in March last year it had crossed the $160 million milestone.
- Per a blog post, Pantera disclosed it had primarily invested in infrastructure, finance and exchanges in the digital asset space.
- One of its first investments was the institutional derivatives exchange Bakkt.
See also: Crypto Long & Short: The Surprisingly Sunny Outlook for Crypto Hedge Funds
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