Click here to close now.




















Welcome!

News Feed Item

Pantera Capital Announces Venture With Benchmark, Fortress Investment Group and Ribbit Capital for Bitcoin Investments

Pantera Capital Management LP (“Pantera”), an investment firm founded in 2003, announced today that the firm is focusing its investment advisory services exclusively on Bitcoin, other digital currencies and companies in the space.

The firm also announced today that Benchmark, Fortress Investment Group and Ribbit Capital are acquiring an interest in Pantera Bitcoin Partners LLC. These shareholders and their principals will generally make their purchases of Bitcoin and other digital currencies via investments in Pantera.

“Bitcoin is an entirely new thing – a ‘post-currency’ ledger – which has the potential to transform the way we use money. We believe Bitcoin is at an inflection point, making it the right time for a transition to more institutional management,” said Dan Morehead, Pantera’s founder and chief executive officer. “We are joining forces with three leading-edge investment firms to drive this transition and bring seasoned financial experience to this market.”

“We are in the business of helping nascent but potentially world changing ideas take hold,” said Matt Cohler, general partner at Benchmark. “By teaming up with Pantera, Fortress and Ribbit, we believe we can help meaningfully support the growing Bitcoin ecosystem.”

“In our business, we closely follow developments in trading, exchanges and global commerce, and we see potential for the broader adoption of Bitcoin and related technologies to reshape the global payment space,” said Mike Novogratz, Fortress principal and head of the company’s Liquid Markets business. “This partnership brings together leading companies with a range of relevant expertise, well-positioned to lead and capitalize on a potentially transformative evolution.”

“Bitcoin stands to do for money what TCP/IP did for information, drastically changing how people all over the world transact,” said Micky Malka, founder and general partner at Ribbit Capital. “Ribbit is proud to be partnering with Pantera, Benchmark and Fortress in investing behind the growth of this powerful new network and technology.”

Until recently, Pantera Capital focused on global macro hedge fund investments. The firm was founded by Dan Morehead, who was chief financial officer and head of Macro Trading at Tiger Management. Morehead also co-founded and was CEO of Atriax, an electronic foreign exchange platform. He was also global head of FX Options at Deutsche Bank in London and managed a global macro fund and derivatives trading units in North America and Japan at Bankers Trust. He graduated magna cum laude from Princeton University with a B.S. in Civil Engineering and received the Carmichael Prize for an outstanding thesis.

About Pantera Capital

Pantera Capital is an investment firm focused exclusively on Bitcoin, other digital currencies, and the companies in the space. The firm was founded by Daniel W. Morehead in 2003 with a focus on global macro hedge fund investments. Benchmark, Fortress Investment Group and Ribbit Capital are shareholders of Pantera Bitcoin Partners LLC, a subsidiary of Pantera Capital. For more information, visit www.panteracapital.com.

About Benchmark

Benchmark’s mission is to back great entrepreneurs who are changing the world. The firm is privileged to work alongside men and women who are taking big ideas and transforming them into successful companies. Benchmark investments include companies such as Grubhub, Instagram, New Relic, Nextdoor, Snapchat, Twitter, Uber, Yelp, Zendesk, and Zillow. Benchmark has offices in Woodside and San Francisco. For more information, please visit www.benchmark.com.

About Fortress

Fortress Investment Group LLC is a leading, highly diversified global investment firm with approximately $61.8 billion in assets under management as of December 31, 2013. Founded in 1998, Fortress manages assets on behalf of over 1,500 institutional clients and private investors worldwide across a range of private equity, credit, liquid hedge funds, and traditional asset management strategies. Fortress is publicly traded on the New York Stock Exchange (NYSE:FIG). For additional information, please visit www.fortress.com.

About Ribbit Capital

Ribbit Capital is a venture capital firm that invests globally in unique individuals and brands who are aiming to disrupt financial services. Headquartered in Palo Alto, Ribbit believes the category is profoundly under-innovated and is looking to support entrepreneurs who have already launched the businesses of the future. For more information, please visit www.ribbitcap.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Learn how to solve the problem of keeping files in sync between multiple Docker containers. In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are needed to help create a seamless user experience. In the end, can we have an environment where we can easily move Docker containers, servers, and volumes without impacting our applications? He shared his results so yo...
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...