Pantera Capital, which has pioneered investments in cryptocurrency assets, has set its goal for its third venture fund at $175 million, surpassing the $25 million raised for its second fund and the $13 million from its first one, according to TechCrunch.
A new filing for a Pantera venture fund offering with the Securities and Exchange Commission notes the company has raised $71.445 million in commitments from 90 investors. The new offering, which began on July 31, 2018, will last more than a year. Dan Morehead, the founder of Pantera Capital, is listed as an executive officer in the new filing, along with Matthew Gorham and Pantera Advisors LLC.
Paul Veradittakit, a Pantera partner, said the amount already raised represents the first close.
The filing, signed on Aug. 15, 2018 by Ryan Davis, chief financial officer, declined to disclose the revenue size of the company issuing the offering. No proceeds were proposed as payments to persons named as executive officers, directors or promoters of the new offering.