Pantera Capital raises $164.7 million for its third venture fund

A leading venture firm in the cryptocurrency industry, Pantera Capital raised $164.7 million from 198 accredited investors for its Venture Fund III. The data are contained in a filing with the U.S. Securities and Exchange Commission (SEC) on Form D.

This marks the third round of private placements. In the first round, when the fund was created in 2018, investors invested $71.4 million, last year the fund size rose to $95.9 million.

The fund’s return was not disclosed.

Under the 3(c)(7) exemption of the U.S. Investment Company Act accredited investors were those with assets of at least $5 million.

In March of last year, Pantera Capital announced it had raised $160 million for Venture Fund III, with a plan of $175 million. The firm noted that Venture Fund III had already invested in 11 portfolio companies totaling $38 million in the following sectors — finance, payments, exchanges, private blockchain solutions and infrastructure. The company participated in Bakkt’s funding round.

As reported in July’s report, the Pantera Bitcoin Fund’s seven-year return stood at over 15,000%, and the Pantera Digital Asset Fund with positions in the DeFi segment has risen 86% since the start of the year.

Dan Morehead, head of Pantera Capital, in August confirmed his expectations for a six-figure Bitcoin price.

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