Series Pantera CapitalMcsweeney TheBlock has secured $1 billion in commitments for a blockchain fund. The fund aims to invest in early-stage token projects. The fund has previously invested in startups like Alchemy, which raised $15 million in a Series A round. It also has a history of backing early-stage token projects.
Pantera Capital has $1 billion in commitments
Series Pantera CapitalMcsweeney TheBlock plans to close its first Blockchain Fund in three to four weeks, with over $1 billion in commitments. The company first announced plans to raise $600 million, but last month announced that it had surpassed its goal. It plans to invest in equity, digital tokens, and early stage tokens. The goal is to close all of its investments by May 2023, and the CEO of the company indicated that the fund would seek to buy shares of companies that have lost their valuation.
Value add business
Series Pantera CapitalMcsweeney TheBlock has a strong reputation for success and has been involved in many of the biggest deals in the industry. It has a value-add business model and also uses best-in-class trading infrastructure and tools to execute trades. The also has relationships with prime brokerages, exchanges, and also custodians. It has invested in a number of companies that are still in the early stages.
Pantera Capital has raised $1 billion in commitments for its second blockchain fund. The fund will invest in digital tokens and in equities of Pantera owned companies. The minimum investment in the fund is $1 million. The fund will open to qualified buyers in June 2021.
The company was founded in 2003 as a macro hedge fund but has shifted its focus to blockchain and digital currencies. The firm currently manages $5.6 billion in blockchain assets. Its funds are designed to provide full exposure to the space, from seed stage tokens to multi-stage venture capital.
It previously led Alchemy’s $15 million Series A round
Alchemy has raised $15 million from investors including Pantera Capital, Samsung, and SignalFire in its Series A round. The company plans to use the funds to expand its service offerings and to launch new products. The company’s mission is to make blockchain technology easy to use by offering a suite of dedicated toolkits and services. Its platform currently serves over one million users from over 200 countries. Its clients include web browser Opera, ethereum entertainment platform Flow, and Bitcoin wallet Binance. Found in 2017, the company is co-found by two former founders of Down to Lunch, an online social network.
Alchemy is a blockchain company based in San Francisco that develops infrastructure services and tools for blockchain projects. Its Series A funding was led by Pantera Capital. The company’s other notable investors include Google chairman John Hennessy, Yahoo founder Jerry Yang, and Charles Schwab. It was also founded by Reid Hoffman, the former CEO of LinkedIn and the former CTO of the cryptocurrency exchange Coinbase.
The company has a product that will launch in August 2020. It has 37 employees and already powers more than $30 billion worth of transactions. The company is also an infrastructure provider for major blockchain platforms, and serves over a million users every week across 200 countries. Its services and tools are used by major corporations and institutions, including Adobe, PricewaterhouseCoopers, and UNICEF. Alchemy currently has two offices and plans to expand to more locations.
It invests in early-stage token projects
Pantera Capital, a venture capital firm, is an early-stage investor in early-stage token projects. The firm evaluates hundreds of projects before making an investment, cherry-picking those with strong potential for growth. As a result, investors gain exposure to new technologies and enjoy higher returns than traditional investments. Pantera favors investments in blockchain-based digital assets with asymmetric risk/reward characteristics.
Early stage token
Pantera Capital has raised $15 million in a Series A round to further develop its platform and network. The firm plans to integrate new blockchains and will increase its investment in cross-chain functionality. The firm expects to take up to 20 percent of a company for each investment. Pantera’s early-stage token investments typically range from $1 million to $15 million, which is similar to a venture equity deal.
The firm has invested in 44 early-stage token projects. It has also invested in 26 venture equity deals. Some of its portfolio companies include Aurora, which provides Ethereum compatibility and scalability for smart contracts on the NEAR blockchain. The firm also invests in Mcsweeney theBlock, a decentralized open-source protocol that makes financial applications easier to develop.
Pantera Capital also led a $15 million Series A round of financing in 0x Labs, which created the ZRX token and a decentralized exchange protocol. The company plans to use the funds to expand its team and develop its Matcha platform, which will aggregate liquidity from multiple DEXs, allowing users to get the best price. It plans to expand its product to include a range of assets and currencies. Its team says its next steps are part of a wider goal to create an open, transparent financial system.