Pantera Early-Stage Token Fund LP
Pantera Early-Stage Token Fund LP is a hedge fund based in San Francisco, California. According to its most recent Form D, filed Jul 10, 2026, the fund has sold $442,594,833 of interests to 683 investors since its first sale in Jun 2017. The filing does not set a minimum investment. It relies on the Section 3(c)(7) exclusion, so investors generally must be qualified purchasers. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Related persons named in the filing include Daniel Morehead; Matthew Gorham; Marc Selfon.
Performance
No verified returns have been reported for this fund. As a rough guide, Pantera Capital, which manages it, disclosed U.S. stock holdings that returned an estimated -27.1% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q1 2025 to Q2 2026, the estimate is -62.5% (S&P 500: +27.4%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $442,594,833Cumulative sales reported on Form D
- Investors
- 683
- First sale
- Jun 5, 2017
- Minimum investment
- None set
- Who can invest
- Qualified purchasersSection 3(c)(7): generally $5M+ in investments
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- Daniel Morehead; Matthew Gorham; Marc Selfon
- Latest Form D
- Jul 10, 2026
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Pantera Early-Stage Token Fund LP
What is the minimum investment for Pantera Early-Stage Token Fund LP?
Pantera Early-Stage Token Fund LP's latest Form D, filed Jul 10, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Pantera Early-Stage Token Fund LP?
Pantera Early-Stage Token Fund LP is generally open only to qualified purchasers (generally individuals with at least $5 million in investments), because it relies on Section 3(c)(7). It uses Rule 506(c), so it may advertise, but every investor must be verified as accredited.
How much has Pantera Early-Stage Token Fund LP raised?
Pantera Early-Stage Token Fund LP reports $442,594,833 sold from 683 investors on its Form D filed Jul 10, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is Pantera Early-Stage Token Fund LP based?
Pantera Early-Stage Token Fund LP is based in San Francisco, California and is managed by Pantera Capital.
When did Pantera Early-Stage Token Fund LP launch?
Pantera Early-Stage Token Fund LP reports its first sale in Jun 2017.
Size compared with every hedge fund
Raised more than 85% of the 1,060 hedge funds based in California, and more than 80% of all 10,308 that report sales.