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The Venture Codex

Overview

Investment firm focused on Bitcoin and digital currencies.

Founded

2013

Deals ยท 12mo

24

Stage focus

Seed
Series A

Geographic focus

Singapore
United States

Sector focus

Bitcoin
Financial Services
Venture Capital

Investment portfolio

176rounds
NAMEDATESIZE
Meanwhile
Oct 2026Participated
$38 MOther Equity
World Network
Jul 2026Led
$53 MICO
BKG Exchange
Jul 2026Led
$53 MOther Equity
Sentient
Jul 2026Led
$85 MSeed
Orthogonal
Jun 2026Led
$4 MSeed
TurboFlow
Jun 2026Led
$6 MSeed
Radius
Jun 2026Led
$6 MSeed
Four Pillars
Apr 2026Led
$20 MSeries A
OpenFX
Mar 2026Participated
$94 MSeries A
Nitra
Mar 2026Participated
$165 MDebt
Nitra
Mar 2026Participated
$22 MSeries A
Hypercycle
Mar 2026Participated
$35 MSeries B
Meanwhile
Oct 2026Participated
$38 MOther Equity
World Network
Jul 2026Led
$53 MICO
BKG Exchange
Jul 2026Led
$53 MOther Equity
Sentient
Jul 2026Led
$85 MSeed
Orthogonal
Jun 2026Led
$4 MSeed
TurboFlow
Jun 2026Led
$6 MSeed
Radius
Jun 2026Led
$6 MSeed
Four Pillars
Apr 2026Led
$20 MSeries A
OpenFX
Mar 2026Participated
$94 MSeries A
Nitra
Mar 2026Participated
$165 MDebt
Nitra
Mar 2026Participated
$22 MSeries A
Hypercycle
Mar 2026Participated
$35 MSeries B
176
Items
...
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Insights

Time horizon

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Deal Distribution

Pantera Capital: 176 funding rounds are recorded in the selected participation categories.All available history.
Pantera Capital: 176 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed3414
Series A3016
Series B414
Series C+16
Other Equity2133
ICO11
Debt01

Monthly Deal Activity

Pantera Capital: 176 deals are recorded across 152 months.All available history.
Pantera Capital: 176 deals are recorded across 152 months. All available history
MonthDeals
Mar '141
Apr '140
May '140
Jun '140
Jul '140
Aug '141
Sep '140
Oct '140
Nov '140
Dec '142
Jan '150
Feb '151
Mar '150
Apr '151
May '150
Jun '150
Jul '150
Aug '150
Sep '151
Oct '150
Nov '151
Dec '150
Jan '160
Feb '160
Mar '161
Apr '160
May '160
Jun '160
Jul '161
Aug '161
Sep '160
Oct '161
Nov '160
Dec '160
Jan '170
Feb '170
Mar '171
Apr '170
May '170
Jun '170
Jul '170
Aug '170
Sep '170
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '181
May '182
Jun '180
Jul '182
Aug '181
Sep '181
Oct '182
Nov '180
Dec '182
Jan '190
Feb '191
Mar '190
Apr '193
May '190
Jun '190
Jul '191
Aug '190
Sep '190
Oct '193
Nov '190
Dec '191
Jan '200
Feb '203
Mar '201
Apr '200
May '202
Jun '200
Jul '201
Aug '200
Sep '200
Oct '201
Nov '201
Dec '203
Jan '211
Feb '211
Mar '212
Apr '212
May '212
Jun '213
Jul '210
Aug '214
Sep '211
Oct '214
Nov '212
Dec '210
Jan '222
Feb '225
Mar '229
Apr '225
May '223
Jun '223
Jul '222
Aug '224
Sep '222
Oct '222
Nov '221
Dec '220
Jan '231
Feb '231
Mar '232
Apr '232
May '230
Jun '231
Jul '231
Aug '230
Sep '232
Oct '231
Nov '230
Dec '231
Jan '241
Feb '242
Mar '242
Apr '244
May '240
Jun '241
Jul '242
Aug '243
Sep '240
Oct '241
Nov '241
Dec '240
Jan '252
Feb '250
Mar '250
Apr '252
May '250
Jun '252
Jul '252
Aug '253
Sep '254
Oct '255
Nov '252
Dec '253
Jan '263
Feb '262
Mar '264
Apr '261
May '260
Jun '263
Jul '263
Aug '260
Sep '260
Oct '261

Sector Breakdown

Pantera Capital: Crypto & Blockchain is the largest displayed sector by deal count (143 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Pantera Capital: Crypto & Blockchain is the largest displayed sector by deal count (143 deals). All available history
SectorDeals
Crypto & Blockchain143
Fintech82
Networks, Cloud & Communication25
Enterprise Software18
Gaming & eSports16
Developer Tools14
Cybersecurity & Privacy13
Professional Services12
AI & Machine Learning7
E-Commerce & Retail6
Marketing & Advertising6
Hardware & Robotics6
Health & Life Sciences6
AR/VR5
Data, Analytics & IT5
Consumer & Lifestyle5
Media & Entertainment5
Transportation & Logistics4
Social & Community Platforms4
Travel & Hospitality1
Clean Energy & Sustainability1
Real Estate & Construction1
Space & Frontier Tech1
Manufacturing1

Deal Size Distribution

Pantera Capital: 176 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Pantera Capital: 176 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M28
$5M-$10M26
$10M-$25M53
$25M-$50M29
$50M-$100M19
$100M-$250M13
$250M-$500M5
$500M-$1B2
$1B+1

Deals By Geography

Pantera Capital: United States has the largest recorded deal count among the displayed regions (106 deals).All available history.

Top 10 of 28 regions; European countries are grouped as Europe.

Pantera Capital: United States has the largest recorded deal count among the displayed regions (106 deals). All available history
RegionDeals
United States106
Europe17
Singapore11
South Korea4
United Arab Emirates4
Jamaica3
Indonesia3
Hong Kong3
Canada2
Mexico2
Pantera Capital: 20 co-investors are shown, with Coinbase Ventures sharing 44 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

Pantera Capital: Led accounts for 52% and participating for 48% of round participation.All available history.
Pantera Capital: Led accounts for 52% and participating for 48% of round participation. All available history
CategoryDeals (count)Share (%)
Led9152%
Participating8548%
Pantera Capital: Single-lead accounts for 64% and co-led for 36% of lead dynamics.All available history.
Pantera Capital: Single-lead accounts for 64% and co-led for 36% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead5864%
Co-led3336%

Team

Brody West

Principal

Dan Morehead

Founder , Co-Chief Investment Officer & CEO

Mason Nystrom

Investment Partner

Samir Shah

Chief Operating Officer

Terence Schofield

Chief Technology Officer