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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.

Aug 17, 2020 at 8:55 a.m. UTC
Updated Sep 14, 2021 at 9:44 a.m. UTC

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.

  • 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.

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