Pantera Capital Invests $15 Million in McSweeney’s TheBlock
One of the most notable ventures that Pantera Capital has invested in recently is McSweeney’s TheBlock, an e-book publishing firm. While the company’s shares have climbed significantly over the past few months, there are still a number of questions surrounding this investment. These include the company’s unalterable commitment to its business plan and whether it has the resources to continue to expand its operation.
In December 2018, Pantera Capital made waves with their $15 million Series I investment. Not only is the VC a name to be reckoned with, but their knack for picking the right winners is a trait that has earned them a spot on CBOT’s coveted “Top Ten” list. One of their recent outings involved a multi-million dollar wager on a group of techies that would go on to launch the crypto and fintech behemoth that is The Block. They were not alone in the pool, as VCs such as the Dragonfly, McSweeney, and First Crypto Ventures are also looking to make a splash in the cryptosphere.
Not to be left out in the cold, Pantera’s partners have taken a more hands on approach by joining forces with notable names in the crypto space. While the company hasn’t yet announced its own crypto fund, it has been known to invest in companies of all sizes. Some of their current bets include the Alphabit, an early-stage digital asset fund founded by former PayPal executive Liam Robertson.
Dragonfly Capital Partners
Dragonfly Capital is a global crypto-focused investment firm that has launched its first $100 million fund dedicated to cryptocurrency investments. The fund will invest in a broad range of companies that are developing innovative solutions for cryptocurrencies, smart contracts, digital currencies, and decentralized finance protocols.
The Dragonfly fund is run by Bo Feng, who is a founding partner of Ceyuan Ventures, the first Chinese internet-focused venture capital firm. Feng’s investment strategy is based on his experience managing multi-billion-dollar VC funds.
The fund will invest in a number of crypto assets and native protocols, including NEAR Protocol, a technology platform that provides an encrypted data storage system. Other investments include Basis, a price-stable crypto-token; Everyrealm, an investor in metaverse land; and Dune Analytics, a data analytics firm.
The Dragonfly team has attracted some of the top technology investors. Among them are Justin Tang, founder of eLong; Bob Xiaoping Xu, founder of Zhenfund; Cai Wensheng, founder of China Renaissance Bank; and Zhang Tao, founder of Meituan-Danping.
Invested in by Pantera Funding
Pantera Capital is an investment firm specializing in the digital currency space. It was founded in 2003 by Dan Morehead, a former Tiger Management executive. The firm focuses on investing in companies in the crypto space, and has backed a number of startups.
In January 2022, Pantera announced it had secured over $1 billion in commitments. It plans to invest in a wide range of crypto assets, including early-stage tokens, with an asymmetric risk/reward trade-off. Currently, Pantera is leading CoinDCX’s $135M Series D fundraising.
Pantera recently revealed its investments in companies such as Unstoppable Domains, and is participating in an $113M series B round for Pintu, an Indian-based cryptocurrency exchange. In a recent interview, Dan Morehead stated that the firm is aiming to close its second blockchain fund in May.
Pantera Capital has a history of success, and has invested in many big deals in the industry. Currently, Pantera holds $4.5 billion in assets. Its representative office is located in Menlo Park, California.