Ceres, a advertising firm primarily based in Japan, has simply turn into the latest investor within the San Francisco-based blockchain and cryptocurrency hedge fund Pantera Capital.
As the primary Bitcoin fund in america, Pantera rapidly noticed the potential in cryptocurrency and raised $ 13 million for his debut supply in 2013 and $ 25 million for his second. The group third venture capital fund, named Pantera Enterprise Offshore Fund III LP, was registered in August 2018.
The $ 175 million 10-year fund focuses on investments in blockchain-related firms, ICO tokens and associated firms. Pantera has beforehand invested in Ripple, Courageous, Circle and Bitstamp, in addition to ICO tokens resembling 0x, Protocol, Kyber and Polkadot.
Ceres lively within the crypto space
This isn’t Ceres & # 39; first try on this planet of cryptocurrency. The advertising firm has actively invested in Xtheta, a licensed Japanese crypto trade.
Ceres additionally has a token service referred to as Moppy, a reward system through which factors could be exchanged for money or digital forex. With greater than seven million customers in Japan, there’s a sturdy similarity between features of Moppy and present ones blockchain know-how.
Pantera goes lengthy
Pantera Capital founder and CEO, Dan Morehead long predicted the worth of Bitcoin will enhance within the coming years. Most not too long ago, he estimated the worth of the cryptocurrency would rise to $ 356,000 by 2022.