Investment company Pantera Capital raised $ 125 million to create a third cryptocurrency venture capital fund. The new foundation will specialize in supporting mature projects. Thus, Pantera Capital plans to support participants in the crypto industry until the end of the bear market.
Pantera partner Paul Veraditkit noted that the company planned to raise 175 million by March 2019, but the fundraising was too slow.
“We are in a bear market, and fundraising has slowed down for the entire industry, whether you are an entrepreneur or a foundation, ” explained Veraditkit.
Pantera Capital intends to support from 30 to 50 companies. In this case, half of the fund's capital will be reserved for future financing.
In July 2018, Pantera Capital reported that it received 10,136% of the profit from its cryptoinvestments.