Investment Firms Team Up to Form Pantera Bitcoin Partners
New reports are indicating that some well-known investment firms are teaming up to form a fund that focuses on digital currencies, namely bitcoin. Fortress Investment Group, Ribbit Capital, and Benchmark Capital are joining Pantera Capital to form a new venture dubbed Pantera Bitcoin Partners, LLC. The move comes not long following news that Fortress' stash of bitcoin has lost a significant amount of value. It also highlights the closing gap between the bitcoin ecosystem and Wall Street. "We're very excited about the promise of Bitcoin and how it can transform the way we move money," said....
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Investment firms Fortress Investment Group (FIG), Benchmark Capital and Ribbit Capital have teamed up with Pantera Capital to launch a bitcoin investment fund. The new fund will be known as Pantera Bitcoin Partners LLC and, as the name implies, it will be controlled by Pantera. Fortress, Ribbit Capital and Benchmark Capital will be minority equity partners. Fortress became the first Wall Street investment firm to enter the bitcoin space. Last year it was rumoured to be acquiring bitcoins and a regulatory filing published in February revealed it had set aside $20m for bitcoin investments in....
Fortress Investment Group LLC and Pantera Capital have announced that they are teaming up to form an investment fund focused on virtual currencies. According to the Wall Street Journal, the joint venture Pantera Bitcoin Partners LLC, is controlled by Pantera and allows minority equity partners Fortress, Benchmark Capital and Ribbit Capital to manage future and existing virtual currency-related investments through the fund. New York based Fortress, who manages about $58 billion in assets, was an early bitcoin investor. A recent regulatory filing indicates the firm purchased $20 million....
Kenya-based bitcoin services provider BitPesa has raised $1.1m as part of a new funding round led by hedge fund Pantera Capital. Additional participants in the round included VC firms Bitcoin Opportunity Corp, Crypto Currency Partners, Future/Perfect Ventures and Stephens Investment Management. BitPesa CEO Elizabeth Rossiello explained that funding comes at a time when the nine-member team is still evolving its core services and seeking to identify the target consumers for whom the offering will be most appealing. The service currently enables the exchange of bitcoin for Kenyan Shillings,....
Certain organization such as MMM Global have been accepting bitcoin payments in what appears to be a rehashing of the pyramid scheme of the same name that was started back in the Soviet Union. Now, CEO Bobby Lee and the BTCC team issued a warning to its customers and potential bitcoin investors that BTCC is in no way affiliated with such schemes, and that investors must consider validating the entity promoting any bitcoin related investments to ensure its legitimacy. Over the past few months, customers of prominent bitcoin exchanges and investment firms like BTCC and San Francisco-based....
We didn't have to wait until Thursday, as SecondMarket CEO Barry Silbert projected to hear this news. The Wall Street Journal is reporting that SecondMarket's Bitcoin Investment Trust could be open to all investors as soon as the fourth quarter of this year. At the present, the fund is open to investors with $1 million + in assets who bring in at least $200,000 annually. Investors will have access to the fund via the OTC Markets electronic marketplace. The fund will first need to be approved by OTC Markets in addition to the Financial Industry Regulatory Authority. The WSJ reports that the....