Pantera Capital

Pantera Capital is an American venture capital and digital asset investment firm headquartered in Menlo Park, California. Founded by Dan Morehead, a former head of global macro trading and chief financial officer at Tiger Management, the firm pivoted exclusively to crypto in 2013 by launching the first dedicated Bitcoin fund in the United States. Across its history, the manager raised early vehicles including the $13 million Bitcoin Fund in 2013, Venture Fund II at $25 million in 2014, and Venture Fund III at $175 million in 2018.

The firm manages four core fund strategies covering venture equity, early-stage tokens, and liquid digital assets, overseeing an estimated $3.5 billion in assets under management. Pantera typically leads its primary venture and token rounds, backing projects in infrastructure, decentralized exchanges, and staking.

Notable investments

Pantera has backed core crypto protocols from early development through secondary rounds. Notable investments include leading the $29 million Series A for Ethereum restaking protocol Symbiotic in April 2025, leading the $22 million Series B for decentralized exchange SynFutures in October 2023, and leading the $12.5 million Series A for distributed validator network Obol in January 2023. Other early bets include leading the $12 million Series A for DEX aggregator 1inch in December 2020, leading the $14.1 million seed round for payment network Flexa in April 2019, and early backing for the Electric Coin Company in 2016. The firm also holds portfolio positions in Uniswap, Polkadot, Bitstamp, and Ankr.

In October 2026, Pantera announced that it led the Series A round for private market tokenization platform Fission, continuing its focus on onchain market structure and duration risk underwriting.