Pantera Raises Additional $5M for Its Bitcoin Fund, Bringing Total to $134M

Formed in 2013, Pantera’s was the first U.S.-based bitcoin fund.

Nov 21, 2020 at 11:10 p.m. UTC
Updated Sep 14, 2021 at 10:33 a.m. UTC

Cryptocurrency firm Pantera Capital has raised another $5 million for its bitcoin fund, bringing the total to $134 million, according to a form D filing with the U.S. Securities and Exchange Commission.

Formed in 2013, the Pantera Bitcoin Fund Ltd. was the first U.S.-based bitcoin fund. In an investor letter at the end of 2017, Pantera boasted a 25,004% return on the fund, mainly due to the bitcoin bull run of that year.

Recently, CoinDesk discovered that Pantera’s venture funds hadn’t fared well in comparison to the S&P 500. The venture funds Pantera Capital raised in August 2013 and August 2014 have returned 46.5% and 15.9% from their inception to September 2019, respectively.

Of course, that performance may have improved as of late due to bitcoin’s recent bull run. As of press time, the price of bitcoin has risen around 159% year to date.

CORRECTION (Nov. 22, 01:41 UTC): Pantera reported raising an additional $5 million in its most recent filing, not $134 million as this article originally stated.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.