Dan Tapiero, the management company of 10T Holdings, has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a third fund with a focus on investing in crypto startups at an intermediate and mature stage of development. The volume of assets under the management of the structure will amount to $500 million.
Thus, the total amount of assets under the management (AUM) of 10T DAE Fund 3.0 and the previously launched 10T Fund, with 10T DAY Expansion Fund reached $770 million, according to the firm website.
10T Holdings has invested in projects such as Kraken, eToro, Ledger, Figure, Gemini, Bitfury and Huobi. 12 out of 14 portfolio companies have achieved the status of “unicorn”. Moreover, the list of investors in the funds includes billionaire Alan Howard and the pension fund of state employees of the state of Michigan.
Pantera Capital 600M fund
Recall that earlier in November, the volume of funds raised by the venture capital firm Pantera Capital in the fourth fund aimed at investing in crypto startups reached $600 million. Institutional investors provided 75% of this amount.
In addition, the high level of participation of institutional investors contrasts with the launch of previous structures. Which are funded by representatives of the venture capital industry.
According to sources, Pantera Capital expects the growth of funds raised in the fourth fund to $1 billion by March 2022. As of the end of October, the firm managed $6.4 billion.
A new venture fund in the amount of $2.5 billion from Paradigm
Previously, Paradigm announced the launch of a new venture fund in the amount of $2.5 billion. “The fund and its scale are symptomatic of crypto being the most exciting future in technology”. Paradigm co-founders Fred Ahrsam and Matt Huang said in a Nov. 15 release.
According to the press release, digital assets have come a long way over the past decade. But they are still used by less than 10% of the world’s population. The size of the fund exceeded the expectations of the media. Which predicted its volume from $1.25 to $1.5 billion in October.
“The journey is just beginning, the potential of cryptocurrency has never been so clear,” the message says. Furthermore, the new venture fund will focus on various segments of the Bitcoin (BTC) business.