Cryptocurrency firm Pantera Capital has raised $134 million for its bitcoin fund, according to a form D filing with the U.S. Securities and Exchange Commission.
Formed in 2013, the Pantera Bitcoin Fund Ltd. was the first U.S.-based bitcoin fund. In an investor letter at the end of 2017, Pantera boasted a 25,004% return on the fund, mainly due to the bitcoin bull run of that year.
Recently, CoinDesk discovered that Pantera’s venture funds hadn’t fared well in comparison to the S&P 500.
The venture funds Pantera Capital raised in August 2013 and August 2014 have returned 46.5% and 15.9% from their inception to September 2019, respectively. Of course, that performance may have improved as of late due to bitcoin’s recent bull run. As of press time, the price of bitcoin has risen around 159% year to date.