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VC Firm Paradigm Closes $850M Fund for Crypto Investments

Key Takeaways

  • Paradigm has closed an $850 million fund to invest in early-stage crypto and blockchain projects;
  • The new fund is among the largest in crypto investment history;
  • Since its inception in 2018, Paradigm has invested in high-profile crypto companies like Coinbase, MoonPay, and Starkware.
VC Firm Paradigm Closes $850M Fund for Crypto Investments

Venture capital firm Paradigm has successfully closed its third investment fund, amassing $850 million to back early-stage crypto and blockchain projects.

On June 13, Paradigm announced the completion of this fund, marking one of the largest raises in the history of crypto investments.

Paradigm has previously invested in numerous high-profile crypto companies, including Blast, Coinbase, Ellipsis Labs, friend.tech, MoonPay, and Starkware.

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This fund is Paradigm's largest since November 2021, when it closed a $2.5 billion fund.

There has been speculation about the size of Paradigm's new fund over the past few months. Initial reports by The Information in September 2023 suggested a target of $1 billion. By April, Bloomberg reported Paradigm was aiming to raise between $750 million and $850 million, which has now been confirmed with the latest announcement.

Matt Huang, Paradigm's co-founder and managing partner, reflected on the firm's journey since its inception:

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.

With the new fund, the firm is poised to continue its influential role in driving innovation and growth within the crypto and blockchain industries.

Paradigm is not the only venture firm investing in crypto startups. In April, Galaxy Digital announced the launch of a new fund, aiming to raise $100 million for early-stage crypto companies.

Aaron S. , Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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