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Pantera Capital

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Pantera Capital
Pantera Advisors, LLC
Company typePrivate
Founded2003; 21 years ago (2003)
FounderDan Morehead
Headquarters
Menlo Park, California
,
U.S.
Area served
Products
AUMUS$4.2 billion (2022)
WebsiteOfficial website

Pantera Capital is an American hedge fund and venture capital firm focused on digital assets headquartered in Menlo Park, California.[1][2] The fund specializes in cryptocurrencies and blockchain technology.[3][4] It is one of the largest digital asset funds in the world by managed assets.[5]

History

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The firm was founded in San Francisco, California in 2003 by Dan Morehead, before opening offices on Silicon Valley's Sand Hill Road.[6] The fund was initially focused on global macro before moving into digital assets with Joey Krug, the founder of the first major Ethereum project, Augur.[7][8] Morehead previously led global macro trading at Tiger Management and is seen as one of the fund's "tiger cubs".[9]

The company invested money in the fraudulent cryptocurrency firm FTX and was hit hard by its collapse in November 2022.[10]

Funding

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In 2013, Pantera launched the first investment fund focused on Bitcoin in the United States.[2][3] The fund opened an office in New York during the early 2000s and established operations in Puerto Rico in 2021.[11][12]

Pantera launched its second blockchain fund in 2022, seeking to raise $1.25 billion. The company’s first blockchain fund was launched in June 2021.[13]

The company launched its third venture fund in 2018 and raised $100 million.[14]

See also

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References

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  1. ^ Schatzker, Erik (26 April 2018). "Hedge Fund Pantera CEO Says Bitcoin Is 'Screaming Buy,' Bets on Icon". Bloomberg. Retrieved 2021-06-03.
  2. ^ a b Popper, Nathaniel (2017-12-19). "A Bitcoin Hedge Fund's Return: 25,004% (That Wasn't a Typo)". The New York Times. ISSN 0362-4331. Retrieved 2021-06-03.
  3. ^ a b Leising, Matthew (27 February 2021). "Coinbase Mafia Shows How Tight a Circle Holds Sway Over Bitcoin". Bloomberg. Retrieved 2021-06-03.
  4. ^ Fletcher, Laurence (2020-05-21). "Crypto hedge funds struggle to recover from 'bloodbath'". Financial Times. Retrieved 2021-06-03.
  5. ^ Kharif, Olga (December 27, 2023). "Crypto Hedge Funds Gear Up for 'Token Mania' After 2023 Rebound". Bloomberg. Retrieved January 14, 2024.
  6. ^ Ballentine, Claire (13 May 2021). "Crypto Fund Pantera Says Bitcoin Energy Concern to Impact Market". Bloomberg. Retrieved 2021-06-03.
  7. ^ Geron, Tomio (2018-11-12). "Crypto Investor Pantera Alters a Fund Amid Downturn". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-04-10.
  8. ^ "Ethereum Beats Rivals With 'Trade-Offs,' Pantera's Krug Says". Bloomberg.com. 2022-01-09. Retrieved 2022-08-09.
  9. ^ "How a former Goldman trader built a $US5.6b crypto behemoth". Australian Financial Review. 2022-01-24. Retrieved 2024-01-15.
  10. ^ "Exclusive: Pantera Capital exec quietly leaves the crypto VC firm". Yahoo Finance. 2023-10-06. Retrieved 2024-06-12.
  11. ^ Francesca, Maglione (December 11, 2021). "Zero Taxes, Golf and Beach Houses Create a Crypto Island Paradise". Bloomberg. Retrieved January 14, 2024.
  12. ^ Sigalos, MacKenzie (2022-01-16). "Bitcoin millionaires are moving to Puerto Rico for lower taxes and island living". CNBC. Retrieved 2024-01-15.
  13. ^ Benzinga (2022-09-29). "Pantera Capital Seeks To Raise $1.25B For Its Second Blockchain Fund". The Dales Report. Retrieved 2024-06-12.
  14. ^ Rooney, Kate (2018-08-16). "Crypto hedge fund Pantera on track to raise $175 million despite bitcoin's price slump". CNBC. Retrieved 2024-06-12.
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