On January 23, Pantera Capital Management, once a traditional hedge fund betting on macroeconomic trends, had $5.6 billion in crypto assets under management as of the end of the year.
In addition, the company returned $6 billion to investors. Meanwhile, the Pantera Bitcoin Fund has returned more than 65,000% since 2013. Pantera isn’t just betting on Bitcoin. Its venture capital fund also invests in companies supporting the crypto ecosystem, including exchanges such as FTX, Coinbase, and Gemini, while the company’s token fund invests in blockchain developers.
Recently, Pantera has focused on the DeFi space. In addition to Pantera Bitcoin Fund gains, the venture fund launched in 2013 also generated a 51% internal rate of return, and Pantera’s Liquid Token Fund has surged 385% in 2021 alone.
The firm had about $5.6 billion under management at the start of the year, with a fourth fund raising $600 million in November. That’s down from the $6.4 billion Pantera managed at the end of November.