Cryptocurrency firm Pantera Capital has raised another $5 million for its bitcoin fund, bringing the total to $134 million, according to a form D filing with the U.S. Securities and Exchange Commission.
Formed in 2013, the Pantera Bitcoin Fund Ltd. was the first U.S.-based bitcoin fund. In an investor letter at the end of 2017, Pantera boasted a 25,004% return on the fund, mainly due to the bitcoin bull run of that year.
Recently, CoinDesk discovered that Panteraâ€™s venture funds hadnâ€™t fared well in comparison to the S&P 500. The venture funds Pantera Capital raised in August 2013 and August 2014 have returned 46.5% and 15.9% from their inception to September 2019, respectively.
Of course, that performance may have improved as of late due to bitcoinâ€™s recent bull run. As of press time, the price of bitcoin has risen around 159% year to date.
CORRECTION (Nov. 22, 01:41 UTC):Â Pantera reported raising an additional $5 million in its most recent filing, not $134 million as this article originally stated.