Pantera Capital

Pantera Capital was founded in 2003 and entered the blockchain space in 2013, making it the earliest institutional firm to focus on digital assets in the U.S. The firm was established by Dan Morehead, former Head of Macro Trading at Tiger Management, and has since grown into a market leader in blockchain investments. With over $4.8 billion in assets under management as of July 2025, Pantera Capital maintains a strong reputation for identifying and investing in category-defining projects.

The company operates with a three-pronged investment strategy: Venture Equity, Early-Stage Tokens, and Liquid Tokens. The Venture strategy focuses on equity investments in blockchain startups building foundational technologies. The Early-Stage Token Fund invests in pre-launch token projects, offering exposure similar to venture capital but through token economics. Meanwhile, the Liquid Token Fund targets established digital assets, using active strategies to capitalize on market inefficiencies.

In addition to being a first mover, Pantera has a history of innovation: the first U.S.-based crypto fund, the first blockchain-only venture fund, and the first early-stage token fund. With 75% of deals led in the Blockchain Fund and 47% of invested capital outside the U.S., the firm maintains a broad global footprint. Pantera operates offices across the Bay Area, New York, and Puerto Rico, reflecting its institutional-grade infrastructure and global reach.

The firm’s newest offering, Pantera Fund V, combines all three strategies—venture equity, early-stage tokens, and liquid assets—into a single diversified vehicle. This allows investors to gain exposure across the entire blockchain lifecycle. Pantera’s approach rivals leading firms like a16z Crypto, Paradigm, and Polychain Capital, while maintaining its reputation for strategic clarity and risk-adjusted performance.

With more than a decade of leadership, a multi-strategy framework, and a world-class team, Pantera Capital remains one of the most trusted and influential players in blockchain investment management.

Pantera Capital offers strategic advantages that distinguish it in the field of blockchain investment management:

• First-Mover Advantage: Launched the first crypto hedge fund and blockchain venture fund in the U.S., setting the foundation for institutional crypto investing.
• Diversified Fund Offerings: Investors can access venture equity, early-stage tokens, and liquid digital assets through specialized funds.
• Massive AUM: With $4.8 billion under management, Pantera has the scale to access premier deals and deep liquidity.
• Global Exposure: 47% of the firm’s invested capital is outside the U.S., offering international market access and early-mover opportunities.
• Proven Track Record: Realized over $547 million on $137 million of invested capital from Venture Funds I–III.
• Access to Exclusive Deals: Pantera leads 75% of deals in its Blockchain Fund and has a reputation for spotting breakout projects early.
• Institutional Infrastructure: Offers daily to quarterly liquidity across different funds and supports investor relations with full transparency.

Getting started with Pantera Capital is tailored for accredited and institutional investors looking to diversify into digital assets and Web3 technologies:

• Step 1 – Visit the Website: Go to panteracapital.com and explore the available funds under the “Funds” section.
• Step 2 – Choose a Strategy: Review fund strategies including Pantera Fund V, Early-Stage Token Fund, Liquid Token Fund, and the Bitcoin Fund.
• Step 3 – Complete Investor Form: Navigate to the “Invest” section and fill out the inquiry form to express your interest and receive documentation.
• Step 4 – Meet Accreditation Requirements: Pantera only works with accredited investors with a minimum allocation of $250,000.
• Step 5 – Contact the Team: For personalized guidance, email the Capital Formation Team at [email protected].
• Step 6 – Start Allocating: Once approved, allocate capital into the desired fund(s) and receive periodic performance insights and portfolio updates.