2018-8-28 14:59 |
For a crypto company right now, this bear market is a hostile place. However, for one of the biggest hedge funds, a bear market doesn’t pose a major problem. Pantera Capital is now seeking to raise $175 million by attracting long-term investors. It is providing an opportunity for investors who see buying opportunities in the dip and intend to stay invested for long. It has already raised almost $100 million in a VC-style funding round and has invested some of that money in a start-up called Bakkt, which is backed by Intercontinental Exchange, Starbucks, Microsoft and others.
Tapping Into Silicon Valley’s Crypto ThirstThough the value of Bitcoin has dropped from $20,000 to about $6,500 in the past eight months, crypto investors remain engaged with digital currencies. Their interest in the sector, coupled with their willingness to invest in its growth, will help entities like Pantera gain advantage. The company has already created two funds, and this is the third and largest of its funds. The first fund was just $13 million, followed by a second fund of $25 million.
In a SEC disclosure document, which was filed this week, it was shown that the firm has already raised $71 million. Pantera executives noted that the total now is closer to $100 million. This indicates that investors across the US have still not given up hope in the digital currency sector and will continue to invest their money regardless of the falling prices. In fact, as the prices of Bitcoin and other currencies have risen spectacularly in the past, a bear market presents a golden opportunity to dive in.
What’s the New Fund All About?Pantera has already secured 140 investors in the fund so far. With a 10-year investment period, the fund provides buyers equity into the blockchain company, instead of simply buying into its respective coin.
Pantera partner Paul Veradittakit notes:
“We’re seeing a shift in momentum. We’re seeing a lot more interesting VC deals, and more equity deals this year than ICO deals.”
He also said that first-time investors are seeing falling prices as a buying opportunity. One of Pantera’s recent investments, Bakkt, will reportedly work on letting retail consumers and institutions buy, sell, store and spend cryptos by fall this year.
The newest fund taps into investors’ feelings that initial coin offerings (ICOs) are getting too controversial and risky. Some projects look promising, while others could be a total fraud.
Pantera Is Eyeing a $175-Million Funding in Bearish Crypto Markets was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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