Pantera Leads $20M Openmind Funding Round

2025/08/13 12:30

The crypto venture capital firm says Openmind’s focus on using decentralization to address the so-called “missing layer” problem in robotics could be a game-changer.

$20M Boost: Pantera Leads Investment in Openmind

Dan Morehead’s Pantera Capital quietly announced a $20 million funding round for AI software startup Openmind on Monday, touting its open-source software products as the “missing layer” in the multi-billion-dollar robotics industry. Coinbase Ventures, Digital Currency Group (DCG), and others also participated in the round.

Morehead launched Pantera in 2003. The firm created one of the first crypto venture funds in 2013, soon after the Ethereum whitepaper was published. Openmind was founded by Stanford University Bioengineering professor Jan Liphardt. His firm has produced two key software products, OM1 and Fabric. The former is a robotics operating system and the latter is an open-source protocol that allows robots from different manufacturers to share information.

The firm’s thesis is that robotics is a heavily siloed ecosystem with machines that lack interoperability and can’t easily share knowledge. Those limitations, according to Openmind, severely impede innovation. Pantera, on its blog, explains that it invested in Liphardt’s startup because decentralized open-source software such as OM1 and Fabric represents a “missing layer” that will revolutionize robotics by allowing different machines to collaborate.

“If we want intelligent machines operating in open environments, we need an open intelligence network,” said Pantera Partner Nihal Maunder. “Openmind is doing for robotics what Linux and Ethereum did for software.”

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Why Billionaire Michael Saylor’s Strategy Outperforms Bitcoin – Here’s What You Need to Know

Why Billionaire Michael Saylor’s Strategy Outperforms Bitcoin – Here’s What You Need to Know

Billionaire Michael Saylor, executive chairman of Strategy, has once again taken to X (formerly Twitter) to explain why shares of $MSTR trade at a premium to Bitcoin’s net asset value (NAV). In his post , Saylor attributed this advantage to four key factors: Credit Amplification, Options Advantage, Passive Flows, and Superior Institutional Access—benefits that equity and credit instruments offer over commodity assets like Bitcoin. $MSTR trades at a premium to Bitcoin NAV due to Credit Amplification, an Options Advantage, Passive Flows, and superior Institutional Access that equity and credit instruments provide compared to commodities. pic.twitter.com/AYQlytS4ID — Michael Saylor (@saylor) August 13, 2025 Credit Amplification: Leveraging to Maximize Bitcoin Exposure Strategy uses intelligent leverage to achieve 2x–4x amplification of Bitcoin exposure. This level of credit-based positioning is unavailable for spot Bitcoin exchange-traded products (ETPs) or direct Bitcoin holdings. By strategically tapping into credit markets, MSTR can enhance returns when Bitcoin’s price rises, effectively multiplying the impact of favorable market moves. This approach, however, also increases risk in downturns, reflecting the high-conviction nature of Saylor’s long-term Bitcoin bet . Options Advantage: Deeper and More Liquid Derivatives Markets Another differentiator is Strategy’s $100 billion+ in open interest within the options market. In comparison, spot Bitcoin ETPs have around $30 billion, while CME Bitcoin futures sit at roughly $20 billion in open interest. This liquidity and market depth give MSTR more flexibility for institutional traders and hedgers, making it a more dynamic vehicle for large-scale strategic plays than Bitcoin itself. Passive Flows: Index Inclusion Drives Steady Capital Unlike Bitcoin or its ETPs, Strategy benefits from passive flows due to its inclusion in major equity indices such as the NASDAQ 100, MSCI, and Russell 1000. This means that as investors pour money into index funds and ETFs tracking these benchmarks, a portion of that capital automatically flows into MSTR shares. This consistent demand adds a structural tailwind to MSTR’s market performance, further widening the premium over Bitcoin’s NAV. Institutional Access: Bigger Capital Pools Than Bitcoin Institutional access is where MSTR’s advantage is perhaps most pronounced. The company’s equity and credit profile provides access to an estimated $35 trillion in equity and $60 trillion in credit markets. By contrast, spot Bitcoin ETPs tap into about $700 billion in private capital, and physical Bitcoin is limited to less than $150 billion. This broader institutional reach gives MSTR more avenues to attract capital, execute financing strategies, and scale exposure. Saylor’s post reinforces his core message: Strategy isn’t just a Bitcoin proxy—it’s a leveraged, institutionally integrated vehicle that combines the advantages of traditional equity markets with a laser-focused Bitcoin strategy. For investors seeking amplified Bitcoin exposure with deep market infrastructure, Saylor argues, $MSTR offers a unique edge.
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CryptoNews2025/08/14 02:12