Paradigm’s $850M Crypto Fund Seals One of the Largest Raises Ever

Last Updated on June 14, 2024

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Key Takeaways:

  • Paradigm raises $850 million for its third fund, focusing on early-stage crypto and blockchain projects.
  • The new fund is one of the largest in the crypto sector, despite the firm’s $278 million loss from FTX.
  • Venture capital investments in crypto continue to rise, with $2.49 billion invested in Q1 2024.

Paradigm, a venture capital firm, has closed a third fund to invest in early-stage crypto and blockchain projects, raising $850 million.

This makes it one of the largest crypto fund raises ever.

The new fund, discussed over the past few months amid a market rebound, is Paradigm’s largest since its $2.5 billion fund in November 2021.

Founded in 2018, Paradigm has invested in notable companies like Coinbase, Fireblocks, and Uniswap, though it lost $278 million in the collapsed exchange FTX.

The increase in venture capital investments in crypto is evident, with $2.49 billion invested in the first quarter of 2024.

Pantera Capital is also raising over $1 billion for a new crypto fund launching in April 2025.

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