Pantera Capital
Blockchain investment firm with venture equity, early-stage token and liquid token strategies.
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Pantera Capital key facts
| Category | Web3 venture firm |
|---|---|
| Platforms | Web |
| Launched | 2013, described by the firm as the first US cryptocurrency fund |
| Company | Offices in San Francisco, New York and San Juan |
What is Pantera Capital?
Pantera Capital is a blockchain investment firm that says it launched the first cryptocurrency fund in the US in 2013, when bitcoin was at $65. It runs venture equity, early-stage token and liquid token strategies, reports $3.5bn in assets as of March 31, 2026, and has offices in San Francisco, New York and San Juan.
How Pantera Capital works
Pantera runs four fund strategies.
Fund V holds venture equity, early-stage tokens and liquid tokens, with liquidity only at the end of the fund. The Liquid Token Fund trades publicly listed tokens with quarterly liquidity. The Bitcoin Fund gives passive bitcoin exposure with daily liquidity. The venture funds buy equity in blockchain companies and return capital at the end of the fund.
Its venture history is public: Fund I (2013, $12mm, 8 investments), Fund II (2014, $23mm, 36 investments), Fund III (2018, $175mm, 32 investments) and Blockchain Fund IV (2021, $1.25bn, 80 investments), all now closed. For early-stage tokens, Pantera says it buys during the private stage at a discount to the listing price. The homepage says it led 75% of deals in the Blockchain Fund and that 47% of invested capital sits outside the US, both as of March 31, 2026.
How to start with Pantera Capital
- Founders send white papers and deal materials to [email protected], which the contact page labels for funding inquiries.
- Investors who want fund access contact the capital formation team at [email protected]; existing investors use [email protected] and the investor login.
- Fund V has an indication-of-interest page for Fund V Beta Bridge LP.
- The firm publishes a monthly Blockchain Letter and offers an email subscription on its site.
Pantera Capital fees and limits
- The Bitcoin Fund, a Cayman hedge fund launched in July 2013, requires a $250,000 minimum from accredited investors and allows subscriptions and redemptions daily on one day's notice; IRA custodians including AltoIRA and Millennium Trust Company can hold it.
- The Liquid Token Fund also has a $250,000 minimum for accredited investors, takes subscriptions monthly and redeems quarterly on 65 days' notice.
Pantera does not state fee percentages on its public fund pages: the Bitcoin Fund page only describes a low fee structure, and Fund V terms sit in a Summary of Terms document. The pages do state entry limits. Fund V is open only to qualified purchasers.
Risks to know before using Pantera Capital
- The key numbers on the homepage are labeled estimated and unaudited as of March 31, 2026, so treat them as the firm's own figures.
- Venture and Fund V capital is locked until the end of the fund, and the Liquid Token Fund only offers quarterly exits.
- Fund access runs through the capital formation team and investor login, not a public sign-up.
- The contact page lists [email protected] for reporting security issues.
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Where Pantera Capital ranks on DappAtlas
Listed next to Pantera Capital
- Multicoin Capital Web3 venture firm
- Framework Ventures Web3 venture firm
Pantera Capital pros and cons
- Public pitch address: [email protected]
- Invests in both company equity and early-stage tokens
- Operating since 2013, the longest record in this group
- Investor access runs through its capital formation team, not open to retail buyers
- Assets figure is as of March 31, 2026 and will change
Pantera Capital FAQ
What is Pantera Capital?
Pantera Capital is a blockchain investment firm that says it launched the first cryptocurrency fund in the US in 2013, when bitcoin was at $65. It runs venture equity, early-stage token and liquid token strategies, reports $3.5bn in assets as of March 31, 2026, and has offices in San Francisco, New York and San Juan.
Sources
How this page works
Sources: Pantera Capital: official site, Pantera Capital: Homepage, Pantera Capital: Contact. Data as of Oct 1, 2026.
Not affiliated with any project listed. Educational content, not financial advice.