Being involved in the bitcoin world is often a matter of exerting a lot of patience. Pantera Capital is one of the most prominent names in the Bitcoin and blockchain VC world these days. However, the company saw its partner and CTO Steven Waterhouse leave the company to pursue other ventures.
While it’s not uncommon to see people jump ship from a Bitcoin company, this news was rather surprising. Pantera Capital has been around since 2013, and they are one of cryptocurrency’s largest VC firms to date. The company has invested in several promising startups, including Abra and 21 Inc.
Pantera Capital Sees A Valuable Partner Go
Moreover, Pantera Capital remains ambitious moving forward. The company is still planning to make future investments in promising Bitcoin and blockchain startups. It seems the departure of Steven Waterhouse has to do with these expansion plans, although that has not been officially confirmed yet. Waterhouse will continue his “role” as a venture investor, despite no longer being associated with the company.
This news will cause some significant changes for Pantera Capital moving forward. Waterhouse was one of their more “public” representatives, who regularly spoke at conferences. Furthermore, he was also one of the first members of the company at the end of 2013. It is evident his departure will leave a void that will be difficult to fill.
At the same time, there is no indication the strategy of the VC firm will see significant changes moving forward; The company recently closed their Venture Fund II, which will be used to sustain new initiatives in the cryptocurrency industry. No specific details were revealed as to which initiatives the firm is looking at for the moment.
Given the reputation and expertise Steven Waterhouse has built up, his personal future will not be in peril anytime soon. Before joining Pantera Capital, he was involved in Fortress Investment Group as well. It seems logical he will continue to explore the venture capital world in some capacity.
Header image courtesy of Forbes