Pantera Capital, a crypto investment firm that has $600 million under management, had a very good year, but still not as good as 2018.
According to a recent SEC disclosure, Pantera Venture Fund III has raised $164,705,834 to date — and a whopping $68,841,379 of that has come over the last twelve months. While the fund raised only $24,419,455 last year, it still has not topped its 2018 raise of $71,445,000.
Pantera Capital fundraising 2018-2020. Source: Cointelelgraph, SEC.
The average investor ticket size, which amounts to roughly $1.77 million, increased more than fourfold relative to 2019 and doubled versus 2018. This could indicate an uptick in interest from institutional investors. The latter theme was elevated after Grayscle ran a national television commercial blitz and Galaxy Digital took out a full page ad in the Financial Times.
Comparatively, crypto hedge funds had an abysmal 2018. Eurekahedge’s cryptocurrency hedge fund index posted a 71.81% decrease, before recovering somewhat in 2019 with a gain of 15.56%. So far in 2020, it is up 46.98%.
Pantera’s founder Dan Morehaed recently opined that he expects Bitcoin (BTC) to breach the $100,000 plateau soon.