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VeradiVerdict - Pantera Venture Fund Oversubscribed - Issue #31

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Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional
 
April 2 · Issue #31 · View online
VeradiVerdict
Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing into blockchain companies and cryptocurrencies. I focus on early stage investments and want to share my thoughts and what’s going on in the industry in this weekly newsletter.
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Editorials
Pantera Capital is on pace to be oversubscribed for its third VC fund, which was targeted to be $175m. We have stopped taking smaller checks and finishing up diligence with institutional investors to round out the fundraise. The fund started deploying capital last year and is already invest in over 10 companies. Below you can see the breakdown of sectors.
Pantera Venture Fund III Sector Breakdown
Investments in exchanges like Bakkt and ErisX continue, as regulations have become more paramount in offering institutions futures and spot exchanges, and both of those companies are led by executives with institutional experience. International exchanges, which were mentioned in the previous newsletter, are great bets until exchange consolidation occurs. Other institutional infrastructure including trade execution platforms like Tagomi, staking-as-a-service companies like Staked, and custody solutions.

Scalability remains a focus, as Pantera has made quite a few investments in decentralized applications and exchange infrastructure. Starkware provides scalability and privacy to blockchains, exchanges, and applications through the use of STARK technology, cryptographic proofs that are zero-knowledge.

Developer tools are important so that developers can focus on creating applications with user experience and security in mind. Synthetic Minds helps developers synthesize for vulnerabilities in their smart contracts, automating code auditing. Other infrastructure include fiat-onramps for decentralized applications and node infrastructure for companies/enterprises to interact with blockchains.

Lastly, consumer products like Blockfolio are essential portals to provide data, asset management, and a social network for cryptocurrency holders and enthusiasts. Other types of products include marketplaces around STOs (security token offerings), NFT (non-fungible tokens), and games.

With this new fund, Pantera is looking to increase its investment and portfolio management team, so feel free to apply for analyst/associate roles in addition to a role to help build a portfolio platform.

In other news, BTC is rocketing and almost at $5,000. My fun theory is that the rally started when Asia woke up and that there is a reaction to the April fools article of a Bitcoin ETF being approved
BTC/USD
Digests
The Lightning Network (Part 2) – Routing Fee Economics – BitMEX Blog
Reflections from the Inaugural Staking Summit – Meltem Demirors – Medium
Bitcoin: the bear market is over get used to it for BITFINEX:BTCUSD by MrRenev — TradingView
In the Tweets
Jerry Brito
Crypto world. The regulators that would be relevant here are like not even aware of the question, and would likely not treat it as a priority if they were given the small sums in question. TBH this question feels like concern trolling to me, but have to run it down. https://t.co/704lOA94Zw
7:46 AM - 27 Mar 2019
Naval
Online payments will follow password storage and contacts to become a core mobile OS feature, rather than remain with third parties. Sensors, biometrics, and browser integration all reduce fraud, increase convenience, and enable new features. Software eats consumer banking.
7:09 PM - 30 Mar 2019
News
Huobi Follows Binance Launchpad: Requires Participants Hold HT Tokens, Pump Is Coming?
PwC is Top Recruiter for Blockchain-Related Jobs on Indeed, Big 4 Auditing Firms Follow
Decentralized Platform Launches New Features as Demand for Crypto Lending Increases
Regulations
Swiss Watchdog Rules Crypto Miner's ICO 'Seriously Violated' Laws - CoinDesk
A Brief History of the SEC’s Reviews of Bitcoin ETF Proposals
US SEC Delays Decision on Bitcoin ETF Applications From VanEck and Bitwise
New Products and Hot Deals
Universal Protocol Alliance to Launch Euro-Pegged Stablecoin in April
Blockchain Insurance Consortium B3i Quietly Raises $16 Million - CoinDesk
Report: ICOs Raised $118 Million in Q1 2019, Over 58 Times Less Than in Q1 2018
Meet with Me
San Diego, April 12
Los Angeles, April 27
New York, Ethereal Summit, May 10-11
New York, Consensus Conference, May 13-15
New York, Token Summit, May 16
Additional Info
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