Pantera Capital intends to raise $ 100 million for its ICO-oriented hedge fund!

Investment company Pantera Capital launches a new hedge fund, focused on investment only in the tokens underlying the public blockade protocols.

The Pantera ICO Fund LP intends to raise $ 100 million, while $ 35 million is already raised from the existing investor base, new investors whose names are not known, and venture capital companies, whose names are also not disclosed.

The new fund will be complemented by Pantera Bitcoin Partners, a joint investment fund created by Pantera, Fortress, Benchmark Capital and Ribbit Capital in early 2014 to invest in the crypto-currency area.

In an interview, Pantera's leadership group stated that the fund was created as a logical continuation of past investment undertakings that included investments in start-ups, the development of which was stimulated through the sale of tokens. Pantera's portfolio includes Ripple and Zcash Electric Coin Company, which use XRP and ZEC tokens, respectively.

Pantera CEO Dan Morehead and co-founder of Augur Joey Krug will act as the fund's main staff.

The fund is currently open only to US institutions and individuals, although it intends to eventually open up to non-US investors.

As explained by Paul Veraditkat, venture investor of Pantera Capital, the creation of the fund is caused by the recent rapid growth of interest in tokens and protocols. According to CoinDesk, in 2017 ICO financing has already surpassed the traditional banking operations with venture capital.

Pantera's investment strategy will be more subtle than just working with large brands that may be interested in the concept.

According to Krug, the fund will mainly seek to finance new protocols, which, in their opinion, will offer something unique.

In terms of long-term expectations, according to the Circle, the ICO process, despite short-term fluctuations, will become an integral way of financing the development of a protocol that will continue to be of interest to investors and entrepreneurs in the future.

"In the long term, we are now at the very beginning," he said.

Investors invest at their own discretion and must assess the risks and prospects for repaying the funds themselves. The editors are not responsible for the further success of the announced projects.