Pantera Capital plans to raise $175 million for another venture investment. Pantera Capital is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain technology, digital currency, and crypto assets. The present fundraising is the third of the firm’s fundraising as it seeks to continue investing in cryptocurrency projects.
$175 million For Another Venture Investment
Pantera Capital is raising a sum of $175 million for expanding its purview in the cryptocurrency community. While Pantera has previously, raised funds to invest in many projects in the cryptocurrency community with long-term investment vision; the fund yet to start yielding a dividend for the firm. But, the company is still venturing into raising more funds for the growth of cryptocurrency.
Two previous funds have been raised for crypto projects, which were in the tune of $25 million and $13 million. The former being $25 million and the press target of $175 million seems like a much ambitious leap. However, a total of $71 million was reported to have been raised out of the $175 million from 90 investors, which makes the target possible.
Pantera Capital has a broad objective and goal to invest in cryptocurrency projects. It has invested in BitStamp, Xapo, Ripple, Circle, Chain, Abra, Veem Polychain, ZCash, Baktt and recently Augur P2P Oracle betting platform. The firm is fond of early investing in startups for the long-term dividends.
The Belief In A Promising Future For Blockchain Projects
Speaking on the investment of the firm, though most have not yet yielded much profit due to the present status of the cryptocurrency market, Paul Veradittakit a partner of Pantera stated with pride:
“Lots of wallets and exchanges focused around the world, in Coinbases of different geographies, in enterprise-related blockchain companies. More recently, we’ve funded everything from big data to decentralized application platforms.”
The CEO of Pantera capital Dan Morehead recently stated that “banks are rats” in response to the statement made by Warren Buffet, where the latter tags cryptocurrencies as “rat poison.”
Pantera Capital invested in Bitcoin while it was incredibly cheap and has invested in a lot of ICOs with the hope of reaping benefits in the future. The capital being raised by the firm is to further its goals as it continues to invest in credible cryptocurrency and blockchain projects.