Paradigm, a crypto venture capital firm, has successfully raised $850 million for a new fund that focuses on supporting early-stage crypto projects. Based in San Francisco, the firm has been involved in backing projects such as Uniswap, Optimism, and Flashbots in the past.
According to Paradigm, they are committed to contributing to innovative projects in their early stages and will be concentrating more on these types of initiatives moving forward. They believe in accelerating the positive development of the crypto industry, not just as investors, but as active participants in building its future.
The $850 million fund marks Paradigm’s third fund since its establishment in 2018 by Fred Ehrsam, co-founder of Coinbase Global, and Matt Huang, a former partner at Sequoia Capital. In 2021, Paradigm also launched a $2.5 billion crypto fund, which was the largest at the time, surpassing Andreessen Horowitz’s $2.2 billion fund. With this new fund, Paradigm now holds the industry’s largest fund since the crypto market downturn in 2022.
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