Pantera Capital Explained

Pantera Capital
Trading Name:Pantera Advisors, LLC
Type:Private
Founder:Dan Morehead
Location City:Menlo Park, California
Location Country:U.S.
Aum:US$4.2 billion (2022)

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

History

The firm was founded in San Francisco, California in 2003 by Dan Morehead, before opening offices on Silicon Valley's Sand Hill Road.[4] 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.[5] [6] Morehead previously led global macro trading at Tiger Management and is seen as one of the fund's "tiger cubs".[7]

The company invested money in the fraudulent cryptocurrency firm FTX and was hit hard by its collapse in November 2022.[8]

Funding

In 2013, Pantera launched the first investment fund focused on Bitcoin in the United States.[9] [10] 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

Notes and References

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

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