Pantera’s Bitcoin Feeder Fund now has $63.7 million in funding from 153 investors, up from $18 million from 56 backers a year ago, according to a new regulatory filing.
Founded in 2019, the Bitcoin Feeder Fund lets investors make indirect investments in the firm’s main Bitcoin Fund, according to an explanatory memorandum. The Bitcoin Fund is a passive tracker of bitcoin that offers investors daily liquidity.Last September, Pantera raised $369 million for a new blockchain fund. Two months later, The Information reported that Pantera was raising $600 million for a new crypto fund to invest in venture equity, crypto tokens and tokens in development. The report said Pantera expected the fund to reach $1 billion by the time it closes in March.Founded by Tiger Management alum Dan Morehead in 2003, Pantera has backed more than 80 blockchain companies and 65 early-stage token deals across a portfolio that includes payments company Circle and crypto exchange Coinbase.Pantera manages $6.4 billion in total in blockchain-related assets, according to the company.