Paradigm Raises $850 Million for Early-Stage Crypto Venture Fund
Paradigm, known for its early investments in projects like crypto exchange Uniswap and Ethereum scaling solution Optimism, has raised $850 million for an early-stage crypto venture fund. Founded in 2018 by Coinbase co-fo...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Paradigm, known for its early investments in projects like crypto exchange Uniswap and Ethereum scaling solution Optimism, has raised $850 million for an early-stage crypto venture fund. Founded in 2018 by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, Paradigm is one of the largest venture capital investors in the cryptocurrency industry. This new fund marks Paradigm’s first since Ehrsam stepped down from a leadership role in October.
“This is the sort of early-stage work that we love contributing to, and it’s what we’ll be increasingly focused on going forward,” Huang wrote in a blog post on Thursday.
In 2021, Paradigm raised a $2.5 billion fund, which was the largest-ever crypto investment vehicle at the time.
The pace of launching new cryptocurrency-focused funds has accelerated this year, with many existing funds also raising capital. This fundraising surge coincided with Bitcoin’s rally to record highs, driven by the introduction of exchange-traded funds (ETFs) investing directly in Bitcoin and recent indications that similar funds focused on Ether are likely to gain approval soon.
Featured Image: Freepik
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoCurrencyNewsRelated market context
Metaplanet burned through 83% of a $500 million credit line to build 43,000 BTC, and now it wants investors to fund the next leg
Metaplanet moved over 5,000 Bitcoin (worth about $322 million) this week, triggering market speculation that the firm might be liq...
SEC Charges Goliath Ventures in Alleged $425M Crypto Ponzi Scheme Targeting 1,300 Investors
Key Takeaways: SEC claims that Goliath is responsible for the raising of at least $425M from 1,300+ investors. Investors were prom...
Kalshi seeks $40 billion valuation in new $750 million funding round
Kalshi is reportedly discussing a funding round of at least $750 million at a $40 billion valuation with Sequoia Capital and Welli...
SEC allows Franklin Templeton funds to invest in onchain money fund
The SEC said it will not pursue enforcement action if Franklin Templeton’s funds start investing cash in the asset manager’s own t...
FG Nexus dumped all its Ethereum at a $45 million loss to buy mobile home parks—after earning just $144,000 in staking rewards
FG Nexus has abandoned its Ethereum treasury strategy less than a year after launch, redirecting its focus toward real estate deve...
Why millions of everyday savers will soon own Bitcoin without ever downloading a crypto app
A future Bitcoin buyer may encounter the asset through a portfolio they already own. An adviser can add a small allocation, a brok...