Pantera Capital, a crypto funding agency that has $600 million underneath administration, had an excellent 12 months, however nonetheless inferior to 2018.
In accordance with a current SEC disclosure, Pantera Enterprise Fund III has raised $164,705,834 so far — and a whopping $68,841,379 of that has come during the last twelve months. Whereas the fund raised solely $24,419,455 final 12 months, it nonetheless has not topped its 2018 increase of $71,445,000.
Pantera Capital fundraising 2018-2020. Supply: Cointelelgraph, SEC.
The common investor ticket dimension, which quantities to roughly $1.77 million, elevated greater than fourfold relative to 2019 and doubled versus 2018. This might point out an uptick in curiosity from institutional traders. The latter theme was elevated after Grayscle ran a nationwide tv business blitz and Galaxy Digital took out a full web page advert within the Monetary Instances.
Comparatively, crypto hedge funds had an abysmal 2018. Eurekahedge’s cryptocurrency hedge fund index posted a 71.81% lower, earlier than recovering considerably in 2019 with a acquire of 15.56%. Up to now in 2020, it’s up 46.98%.
Pantera’s founder Dan Morehaed lately opined that he expects Bitcoin (BTC) to breach the $100,000 plateau quickly.