Crypto investment company Pantera Capital has raised nearly $165 million in private funding from investors, according to a Form D filing with the U.S. Securities and Exchange Commission (SEC) on Friday.
The money was raised via Venture Fund III, Pantera's cryptocurrency hedge fund. The fund was launched in July 2018 and has raised a growing amount of capital in the last two years. In 2018, the fund raised over $71 million. In 2019, the firm raised nearly $96 million. 2020 saw the firm's funding grow by over 130%.
"We haven't raised an additional $167MM, it's just that the final legal closing of Fund III occurred in August this year so our filings were updated," Pantera co-chief investment officer Joey Krug told The Block in an email.
A Form D is used to file a notice of an exempt offering of securities with the SEC, allowing companies to run their businesses without going through the IPO process and publicly sell stocks.
The company had aimed to raise $175 million for Venture Fund III and announced in March 2019 that they had already raised $160 million.
Pantera Capital did not immediately respond to The Block's request for comment.
Disclosure: Pantera Capital made a small equity investment in The Block's last fundraise.
This story has been updated.