​​​​​​​​​​​​​​​​​​​​​​​​​​​​ ​​​​​​​​​​​​​​​​​​​​Pantera Capit | Crypto Yoda

​​​​​​​​​​​​​​​​​​​​​​​​​​​​ ​​​​​​​​​​​​​​​​​​​​Pantera Capital Nears $175 Million Target for Third Venture Fund

Cryptocurrency hedge fund Pantera Capital is close to completing funding for its third venture fund, already raising $160 million, the company announced in a blog post оn March 27.

Pantera, which debuted its first fund in 2013, has since risen to become a conspicuous player in the crypto startup industry. Its latest project, dubbed Venture Fund III, has a fundraising target of $175 million.

“We project making a total of 35 investments, with an average deal size of $3.5 million, and an 11% target average equity stake,” the blog post revealed.

Activity among entities building out the cryptocurrency-related ecosystem has remained brisk despite the ongoing market downturn.

To date, Pantera says, Venture Fund III has already injected $38 million of capital in 11 portfolio companies, leading five of those rounds itself.