Paradigm Closes $850M for Third Crypto Fund
Crypto News

Paradigm Closes $850M for Third Crypto Fund

2d"
1 month ago

Venture capital firm Paradigm has closed its third fund, securing $850 million to invest in early-stage projects.

Paradigm Closes $850M for Third Crypto Fund

Venture capital firm Paradigm has closed its third fund, securing $850 million to invest in early-stage projects. This substantial capital raise marks one of the largest in the history of crypto-focused funds.

View post on Twitter

Announced on June 13, the completion of this $850 million investment fund underscores Paradigm's ongoing commitment to the crypto space. The firm, co-founded by Matt Huang and Fred Ehrsam in 2018, has been discussing this new fund for several months, particularly as the crypto markets have shown signs of recovery.

“When we founded Paradigm in 2018, we believed that crypto would be one of the most important technical and economic shifts of the coming decades. Six years later, that belief has only gotten stronger,” said Matt Huang, co-founder and managing partner of Paradigm.

Paradigm has a robust portfolio, having invested in several high-profile crypto companies. Their investments include Coinbase, Fireblocks, Blast, Optimism, Uniswap, MakerDAO, Chainalysis, MoonPay, Gitcoin, and Friend.tech. The crypto and blockchain sectors have seen a surge in venture capital investments. Data from Galaxy Research shows that investors poured $2.49 billion across 603 deals in the first quarter of 2024. This represents a 29% increase in funding and a 68% rise in deal volume compared to previous quarters, highlighting the growing interest and confidence in these emerging technologies.

In addition to Paradigm, other venture capital firms are also ramping up their crypto investments. Pantera Capital, for instance, is reportedly seeking to raise over $1 billion for a new fund that will offer exposure to a "full spectrum" of blockchain assets. This fund is expected to launch in April 2025.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article