Pantera Capital partner and chief technology officer Steven Waterhouse has departed the bitcoin and blockchain-focused venture capital firm.

Founded in 2013, Pantera is one of the ecosystem’s largest VC firms, boasting a portfolio that includes some of its biggest success stories, including 21 Inc, Abra and Xapo. Waterhouse also served as a board advisor for bitcoin exchange Bitstamp and the now-defunct social tipping startup ChangeTip.

A source close to the venture fund told CoinDesk that Waterhouse "wasn’t a fit" for the firm given its current ambitions, but did not disclose additional details. He is now listed as a venture investor on LinkedIn.

Waterhouse was one of the more visible members of the firm, speaking on behalf of the VC fund at industry conferences and events. Further, he was one of its earliest members, departing Fortress Investment Group to lead the venture in late 2013.

The news coincides with the closure of Pantera Venture Fund II, its latest investment fund aimed at new initiatives in the industry.

Steve Waterhouse image via YouTube