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Paradigm, a crypto-focused venture firm, revealed that it has raised $850 million for its third fund dedicated to investing in cryptocurrency. 
According to an <a href="https://www.paradigm.xyz/2024/06/paradigms-third-fund" target="_blank" rel="noreferrer noopener nofollow">announcement</a> of June 13, the VC firm has closed a $850 million investment fund, making it one of the largest crypto fund fundraisers in history. Paradigm has been considering the new fund for some months, after the recovery in cryptocurrency markets. 
In April, Paradigm <a href="https://www.cryptotimes.io/2024/04/03/paradigm-crypto-vc-aims-to-raise-750m-850m-in-largest-fund/" target="_blank" rel="noreferrer noopener">was in discussions with investors</a> about raising $850 million for a fund. Paradigm launched a $2.5 billion venture fund in 2021 to assist Bitcoin companies and technologies. 
Paradigm has invested in several significant cryptocurrency firms, including Coinbase, Fireblocks, Blast, Optimism, Uniswap, MakerDAO, Chainalysis, MoonPay, Gitcoin, and Friend.tech, to mention a few. The business also invested $278 million in the now-defunct cryptocurrency exchange FTX. In November 2022, it reduced its stake to zero. 
Matt Huang, a co-founder and managing partner, stated, “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.” 
Paradigm has recently led fundraising rounds for cryptocurrency companies, including a $55 million investment in March for Succinct Labs, a zero-knowledge-proof startup. In November 2023, it contributed $18 million to the web3 infrastructure startup Privy’s Series A round. 
Paradigm added, “Bitcoin has monetized to $1 trillion+. Ethereum, Solana and other blockchains are scaling. Stablecoins are being adopted globally. Frontier research speeds along. New infrastructure is enabling consumer applications. Hundreds of millions of people own crypto. And crypto is now a main character on the world’s political stage.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/30/babylon-secures-70m-investment-round-with-paradigm-lead/" target="_blank" rel="noreferrer noopener">Babylon Secures $70M Investment Round with Paradigm Lead</a> 
</blockquote>

Paradigm Raises $850 Million for Third Crypto Fund

The Crypto Times

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