Venture capital firm Pantera Capital, leading in the cryptocurrency industry, raised $ 160 million for the investment project Venture Fund III. So, the company did not reach the goal of $ 175 million, but decided to stop raising funds until the end of the month.
NOW AVAILABLE: Our March # Blockchain Letter, Block Reward Halving and Venture Fund III Closing https://t.co/vUjXVOMYHv pic.twitter.com/F1XMqpzHOx
– Pantera Capital (@PanteraCapital) March 26, 2019
Note that Venture Fund III has already made investments in 11 portfolio companies for a total of $ 38 million. Under the new fund, Pantera Capital intends to implement 35 transactions with an average value of $ 3.5 million. On average, the firm’s share in each of the projects should make up 11%. It is worth adding that the two deals were a natural continuation of the previous ones.
The company has invested in players in the following market segments: finance, payments, stock exchanges, private blockchain solutions and infrastructure.
Pantera Capital is actively investing in trading platforms, because in the past these investments have paid off well. It should be noted that the company participated in the $ 182 million Bakkt financing round together with Microsoft, the Boston Consulting Group and others.
Add, representatives of the venture capital firm recognize that in the past, some correlation between the price of Bitcoin and the approaching date of the halving took place. So, in 2012, the bottom was reached 376 days before the event, and in 2016 – 320 days. Thus, if you take the average, then this time the first cryptocurrency can reach a minimum on June 10 – 348 days before the reward for the block decreases, the company believes.
Recall one of the latest investments Pantera Capital has become a cryptocurrency broker Tagomi.
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