Blockchain and crypto technology-focused investor Pantera Capital has raised up to $71m in the fundraise for its third flagship fund.
Pantera Venture Fund III has received contributions from 90 investors so far, according to the latest US SEC filing.
But CBNC cited Pantera executives as saying the raise was closer to $100m, putting it more than halfway to the fund’s $175m target. Pantera revealed at the start of July that it had hit a first close for the vehicle, but did not say how much capital it had collected at that point.
Last year, it was reported Pantera was looking to raise $100m for a hedge fund which is set to solely invest in blockchain tokens and ICOs – it is not clear whether the vehicle has closed.
This new vehicle has already been tapped to make its first investment, with the serving as one of the founding investors of the newly launched Bakkt. The company is a subsidiary of Intercontinental Exchange, which is the parent of the New York Stock Exchange. Bakkt will be an open and regulated global ecosystem for consumers and institutions to buy, sell, store and spend digital assets.
Founded in 2013, Pantera focuses on backing companies, tokens and projects operating within the blockchain technology, digital currency and crypto asset sectors.
Earlier in the week, the firm used its second flagship vehicle to take part in the $5.5m Series A round of Audius. The company is a blockchain-powered technology platform designed to help musicians monetise and share their music directly with fans.
Earlier in the year, the firm invested into the $28m funding round of blockchain technology developer Harbor. The company hopes to evolve the private securities sector through blockchain technology by bringing in tokenised securities that are backed by real-world assets like real estate, company equity, investment funds and fine art.
Some of the other companies in its portfolio include digital asset wallet BitOasis, e-sports cryptocurrency betting platform Unikrn, cryptocurrency trading platform ShapeShift and global payments solution Ripple.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
