US-based Pantera Capital, which boasts 10,000% returns on crypto and blockchain investment funds, is seeking to raise $175 million for its third venture fund.
The company debuted five years ago, raising $13 million for its first venture fund and $25 million for its second. It focuses exclusively on ventures, tokens, and projects related to blockchain technology, digital currency and crypto assets.
Pantera Capital is also one of the main partners behind Bakkt, the crypto trading exchange recently launched by the Intercontinental Exchange, which owns the New York Stock Exchange.
“Our target amount shows how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds,” says partner Paul Veradittakit. “With more interesting later stage investments, too, we want to be flexible and able to move with the market.”
Founder Dan Morehead believes that the current bearish crypto market is one of seven that Bitcoin has lived through. He also believes its price will get no lower than it currently is (about $6,500) and that within a year, it will reach notable highs again.
“It’s highly likely to be the low point for the industry,” he states. “My normal view is that it’s going to return to its trend.”
He concludes that the price of Bitcoin has been growing at a stable rate since day one back in 2009.
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