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Laxman Pai, Opalesque Asia: Pantera Capital, an investment firm focused on blockchain and digital currencies, has recently successfully raised over $125 million for its third venture fund.
The fund is set to invest in companies that have been in the crypto space for a while, instead of focusing on startups.
According to a report in Coindesk, the crypto-focused venture capital firm is aiming to raise $175 million before the target March closure.
Though the firm has secured a major chunk of the desired amount, the wrath of the market can be clearly seen as, in December, it claimed that two-thirds of the aimed amount has already been raised.
A partner of the hedge fund, Paul Veradittikit, justified that fundraising has become quite difficult for everyone in this industry, mostly due to the bear market, said the report.
Pantera has reportedly been "taking a lot of meeting" with institutional investors such as endowments and pensions funds, which has seen Veradittikit remain optimistic.
The new fund will "invest in later stage rounds to support the more mature companies" than past startup funds from the firm. Veradittakit says that approach will allow the firm to take a more active role in growing companies, including taking board seats. "That's kind of where we want to fit in," he said.
Pantera's prior two funds have invested in 44 companies so far. The new fund is projected to support 30 to 50 companies, according to the Pantera pitch deck. ...................... To view our full article Click here
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