What Pantera Capital is
Founded by Dan Morehead — a former CFO and head of macro trading at Tiger Management — Pantera was born in 2003 as a global macro fund and in 2013 became the first US investment firm focused exclusively on Bitcoin and blockchain, buying BTC at around 65 dollars. It invests across the whole crypto stack: venture capital in early-stage companies, liquid tokens, DeFi and trading infrastructure, with dedicated funds (up to Fund V, a mixed venture and token vehicle, with a first closing set for 31 October 2025). Assets under management amount to around 3.5 billion dollars, according to the uncertified estimate published by the firm and updated to 31 March 2026 (Verified: October 2026). It is not a service for retail savers: its vehicles are reserved for qualified and institutional investors. Current leadership has Dan Morehead as Founder & Managing Partner, Paul Veradittakit as Managing Partner, Scott Lawin as President, Matt Gorham and Paul Brodsky as Partner, Cosmo Jiang and Franklin Bi as General Partner; co-chief investment officer Joey Krug left the firm in February 2023 and is today a partner at Founders Fund, while Ryan Davis, Lauren Stephanian and Jed McCaleb no longer appear in the official team (Verified: September 2026).
Regulation and licences
- Pantera is a US private fund manager (an investment adviser registered with the SEC), not an exchange: MiCA is not applicable — it does not offer crypto services to the EU public. (Verified: September 2026)
- Access to the funds is reserved for accredited/qualified investors under US rules; in the European Union there is no Pantera product that a retail saver can subscribe to directly.
Security
There are no custody incidents or breaches of the funds managed. The sensitive chapter is a tax one and concerns the founder: since January 2025 senator Ron Wyden, the Democratic ranking member of the US Senate Finance Committee, has been investigating the tax treatment of profits made by Dan Morehead after his move to Puerto Rico. On 1 October 2025 Wyden made the investigation public, suggesting that more than 100 million dollars in federal taxes had been avoided and speaking of abuse of the Puerto Rican tax programme. The investigation is ongoing, no charges appear to have been formalised (Verified: October 2026). It concerns the individual, not client funds.
Headquarters and contacts
- Pantera Capital lists offices in San Francisco, New York and San Juan (Puerto Rico) on its website. The amendment to Form D filed with the SEC on 26 June 2026 by the Pantera Fund V LP vehicle gives the address 600 Montgomery Street, Suite 4500, San Francisco (Verified: October 2026).
- Official website: https://panteracapital.com/
Alternatives
- Blockchain Capital — venture capital specialising in blockchain
- Goldman Sachs — a traditional bank's approach to digital assets
FAQ
- Can an individual invest with Pantera Capital? No, not directly: Pantera's funds are reserved for qualified and institutional investors under US rules.
- What makes Pantera historically significant? It is the oldest US investment firm dedicated solely to crypto: its 2013 Bitcoin Fund bought BTC at around 65 dollars, one of the first regulated vehicles for Bitcoin exposure.
- Is the founder under investigation? Since January 2025 senator Ron Wyden, the Democratic ranking member of the US Senate Finance Committee, has been examining the tax treatment of Dan Morehead's profits after his move to Puerto Rico: this is a congressional inquiry. There are no charges; the affair does not touch client capital (Verified: October 2026).
Verified sources
- https://panteracapital.com/
- https://panteracapital.com/contact/
- https://panteracapital.com/team/
- https://panteracapital.com/blockchain-letter/fund-v-closing-october-31st/
- https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002071970&type=D&dateb=&ow
- https://www.finance.senate.gov/ranking-members-news/wyden-unveils-investigation-of-crypto-
- https://www.coindesk.com/business/2023/02/03/crypto-vc-firm-pantera-loses-cio-joey-krug
