Ceres, a advertising and marketing agency based mostly in Japan, has simply change into the most recent investor within the San Francisco-based bl
Ceres, a advertising and marketing agency based mostly in Japan, has simply change into the most recent investor within the San Francisco-based blockchain and cryptocurrency hedge fund Pantera Capital.
On Feb. 28, Ceres announced on its web site that they have been supplying Pantera an undisclosed quantity of yen in direction of the group’s third crypto fund.
As the primary Bitcoin fund in the USA, Pantera was fast to see the potential in cryptocurrency and raised $13 million for its debut providing in 2013, and $25 million for its second. The group’s third venture fund, dubbed Pantera Enterprise Offshore Fund III LP, was registered in August 2018.
The 10-year, $175-million fund is targeted on investments in blockchain-related firms, ICO tokens, and associated companies. Pantera has beforehand invested in Ripple, Courageous, Circle, and Bitstamp in addition to ICO tokens like 0x, Protocol, Kyber, and Polkadot.
Ceres lively within the crypto area
This isn’t Ceres’ first foray into the world of cryptocurrency. The advertising and marketing firm has been actively investing in Xtheta, a licensed Japanese crypto change.
Ceres additionally runs a token service known as Moppy, a rewards system through which factors may be exchanged for money or digital forex. With over seven million customers in Japan, there’s a sturdy similarity between elements of Moppy and present blockchain know-how.
Pantera goes lengthy
Pantera Capital Founder and CEO Dan Morehead has long predicted the worth of Bitcoin will soar within the coming years. Most lately, he estimated the worth of the cryptocurrency would rise to $356,000 by 2022.