Bitcoin hedge fund heavyweight Pantera Capital disclosed details of a filing submission for the SEC, regarding a giant $134 million equity offering – one of the biggest capital fundraising attempts in its history.
Specifically, the massive raise may reportedly be a sign showing Pantera is having major plans down its pipeline, that works in accordance with Bitcoin’s incline in value.
Established 7 years ago (2013) as the first-ever Bitcoin fund throughout the US, Pantera previously secured a cumulative fund of $13 million, and $25 million following that.
However, 2 years ago, the fund reportedly shifted its concentration to a bigger raise, where the outcome would be the establishment of a third investment fund – which goes by the name Venture Fund III.
The new fund reportedly successfully raised $164 million, throughout the course of 2 year (2018-now), where the majority of the capital inflows bookending crypto’s bullish 2019 year.
At the moment, when crypto seems to be entering its one more raging bull market, the SEC filing submission showed major incentives are down the firm’s pipeline.
Despite the final confirmation of whether the outcome of the raise will lead to a new fund, or simply just to widen the coverage of Venture Fund III are yet to be available, Pantera’s newest investment and CEO’s remarks may show some hints, where Dan Morehead – Head of Pantera – reportedly claimed the development of DeFi can potentially outstrip Bitcoin’s growth, and the company is gearing its resources towards the emerging financial vertical.