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
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. ...
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...