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2.04%Crypto Venture Firm Paradigm Announces $2.5B Fund, Industry’s Largest
It tops the $2.2 billion fund announced by Andreessen Horowitz in June.
By Zack Seward
Updated May 11, 2023, 7:06 p.m. Published Nov 15, 2021, 8:23 p.m.
Paradigm, the venture firm launched by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang, now has $2.5 billion for placing bets on the next generation of leading crypto projects.
Paradigm announced Monday the completion of its fundraising efforts. CoinDesk reported in October that the firm was raising around $1.5 billion, according to investor documents seen at the time.
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“This new fund will invest alongside our existing flagship fund across all stages and geographies,” Paradigm’s founding team said in Monday’s blog post.
The bountiful war chest suggests continued enthusiasm among well-connected crypto investors as bitcoin and ether flirt with all-time highs.
Andreessen Horowitz made waves in June when it announced a $2.2 billion fund – the largest for a crypto fund at the time. Paradigm’s latest would appear to top that.
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
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