Pantera Capital is an American

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

and

hedge fund A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and ...

firm focused on digital assets headquartered in

San Francisco, California San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...

. The fund specializes in

cryptocurrencies A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership records ...

and

blockchain The blockchain is a distributed ledger with growing lists of Record (computer science), records (''blocks'') that are securely linked together via Cryptographic hash function, cryptographic hashes. Each block contains a cryptographic hash of th ...

technology. It is one of the largest digital asset funds in the world by managed assets.

History

The firm was founded in

in 2003 by Dan Morehead, before opening offices on

Silicon Valley Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...

Sand Hill Road Sand Hill Road (SHR) or Sand Hill is an arterial road in western Silicon Valley, California, running through Palo Alto, Menlo Park, and Woodside, notable for its concentration of venture capital firms. The road has become a metonym for that in ...

. Morehead was previously the Head of Global Macro Trading and CFO at

Tiger Management Tiger Management Corp. is an American hedge fund and family office founded by Julian Robertson. The fund began investing in 1980 and wound down in March 2000-01. It continues to operate in direct public equity investments and seeding new inves ...

and is seen as one of the fund's " tiger cubs." The fund was initially focused on

global macro Global macro is an investment strategy that leverages Macroeconomics, macroeconomic and Geopolitics, geopolitical data to analyze and predict moves in Financial market, financial markets. Large-scale or "wiktionary:macro, macro" political and econ ...

before focusing solely on blockchain with Paul Veradittakit.

Funding

In 2013, Pantera launched the first institutional investment fund focused on

Bitcoin Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under ...

in the United States. The fund opened an office in New York during the early 2000s and established operations in Puerto Rico in 2021. Pantera launched its second and third venture funds in 2014 and 2018, respectively. Venture Fund II raised $23 million while Venture Fund III raised $175 million.

References

{{Hedge funds Hedge fund firms in California Companies based in Menlo Park, California American companies established in 2003 Tiger Management

History

Funding

See also

References