Pantera Capital Partners LP, along with its affiliated relying advisers, manages a series of private pooled investment vehicles for institutional and high-net-worth investors. The firm focuses primarily on the blockchain and digital asset sectors, employing a variety of investment strategies that include venture capital investments in early-stage blockchain companies, early-stage token opportunities, liquid digital asset trading, bitcoin funds, and specialized token strategies such as Solana, TON, Worldcoin, and decentralized finance protocols. The investment teams conduct fundamental research and technical analysis to identify opportunities across the digital asset ecosystem. The firm operates globally with offices in San Francisco, New York, and San Juan.
Fee Structure
Pantera Capital Partners LP charges management fees and performance-based compensation that vary by specific fund:
- Venture Funds — Management fees range from 1% to 2% per year of aggregate capital commitments, and carried interest ranges from 10% to 30% depending on return thresholds.
- Early-Stage Token Funds — Management fees are 3% per year of beginning capital account balances or gross asset value, plus a 30% incentive allocation on net capital appreciation.
- Liquid Token Funds — Management fees are 2% per year of beginning capital account balances, plus a 20% incentive allocation on net capital appreciation.
- Bitcoin Funds — Management fees are 0.75% per year of net asset value, plus a 1% realization fee upon redemption for certain share classes (no performance fee).
- Blockchain Funds — Management fees range from 1% to 2% per year of capital commitments, plus carried interest ranging from 20% to 30% above return hurdles.
- Solana, TON, and WLD Funds — Management fees range from 0.75% to 1% per year, plus a 10% carried interest after return of capital.
- Token-25 Funds — Management fees are 1% per year of net asset value with no performance fee.
- Beta Bridge Funds — No management fee or performance fee is assessed directly at this level.