Pantera Capital has led a $15 million Series A round for 0x Labs. This company is focused on building a decentralized game engine. Pantera is one of the first VCs to back 0x Labs, and its Liquid Token Fund has surged over 385% in the past year. The firm has also co-led a number of deals in the blockchain gaming/metaverse and NFTs space. In total, Pantera has led or co-led 24 deals.
Exchange Protocol
0x Labs, the creator of the 0x exchange protocol and ZRX token, has raised $15 million in a Series A round led by Pantera Capital. The funding round was the second largest to date for the decentralized exchange startup. The company recently completed a $24 million ZRX token sale. The company will use the money to build its platform, which it calls the Matcha. The Matcha platform aggregates liquidity from other DEXs and offers users the best price across the different marketplaces.
0x Labs, which offers a platform for decentralized exchanges, raised the funding round with the help of investors like Pantera Capital, Jump Capital, OpenSea, and Hollywood actor Jared Leto. Coinbase also made an investment in the company, as the NFT technology it offers can be used for its social NFT marketplace.
Launch Hedge
The company also has plans to launch Hedge, an interest-free lending protocol for Solana. This protocol will enable users to unlock more liquidity through a USH dollar-pegged stablecoin. It is expected to launch a liquidity vault this quarter. The company previously raised $3.7 million in seed funding from Pantera, Race Capital, and Pantera.
Pantera Capital Management
Pantera Capital is an investment firm with over $3.5 billion in crypto hedge funds. The company is co-founded by Dan Morehead, who was once the head of macro trading at Tiger Management. He later founded Pantera Capital Management, where he managed $1 billion in global macro strategies for institutional investors.
Crypto Currencies
Pantera is a former hedge fund that was known for betting on macroeconomic trends. Now, they’ve shifted their focus to cryptocurrencies, backed 80 blockchain companies and invested in 65 early-stage token deals. Their portfolio includes Ripple, Coinbase, Circle and more. In August, the fund raised $369 million to invest in blockchain projects.
The fund combines three investment strategies. The fund will invest in public and private digital assets. The Pantera Liquid Token Fund will invest in publicly traded digital assets, and the Pantera Blockchain Fund will invest in startups creating new protocols within the blockchain ecosystem. The new fund will be split between existing and new funds. Another fund, the Early-Stage Token Fund, will provide exposure to tokens in the first three years of their life cycle.
Pantera’s Liquid Token Fund
Since the beginning of the crypto market, Pantera Capital has made several investments in companies within the crypto ecosystem. These include exchanges and blockchain builders. It has also focused on de-fi, or decentralized finance. These are efforts to replace traditional Wall Street methods of doing business. The fund’s founder, Dan Morehead, got interested in crypto when his brother introduced him to Bitcoin.
Coinbase Ventures
Pantera’s Liquid Token fund has also backed two companies that use blockchain technology to help decentralized organizations improve their token liquidity. One such company is Rift Finance, a decentralized protocol that helps DAOs manage their tokens. The startup was founded by Harvard computer science alumni and is planning to launch infrastructure across several Layer 1 blockchain networks. The firm’s most recent funding round of $18 million was led by Pantera and two Sigma Ventures. It also received support from Coinbase Ventures.
Pantera’s Liquid Token fund is primarily driven by discretionary investment strategies and invests in around 15 to 25 liquid tokens at any given time. It launched in November 2017 and has a minimum investment of $100,000. It charges a 2% administration fee as well as a 20% performance fee. Pantera is the first cryptocurrency hedge fund in the US. As of 25 August 2022, its assets under management stood at $4.7 billion.
Pantera Capital’s Bitcoin
Pantera Capital’s Bitcoin Fund has been an absolute smash for investors, returning more than 65,000 percent since it began investing in the cryptocurrency in 2013. The fund is managed by Dan Morehead, a former Tiger Management executive and chief macro strategist. Since its inception, the Pantera Bitcoin Fund has returned more than $6 billion to its investors. But the fund has come under pressure recently because of rising global interest rates and central bank measures to slow inflation.
Pantera Capital has been investing in crypto assets for eight years and has raised over $1 billion for its new venture fund. The firm has backed companies such as 1inch and Bakkt. It has also invested in early-stage tokens, such as Ethereum.
Conclusion:
The Pantera Bitcoin Fund was up more than 65,000% in the past five years, but is currently down over 50 percent year-to-date. Despite the price decline, the fund’s lifetime returns are still higher than the market’s overall return. The fund has returned over six-thousand percent since 2013, with its largest gain coming in 2017.
