Enterprise capital agency Paradigm has efficiently closed its third funding fund, amassing $850 million to again early-stage crypto and blockchain initiatives.
On June 13, Paradigm introduced the completion of this fund, marking one of many largest raises within the historical past of crypto investments.
Paradigm has beforehand invested in quite a few high-profile crypto firms, together with Blast, Coinbase, Ellipsis Labs, good 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 was hypothesis in regards to the measurement of Paradigm’s new fund over the previous few months. Preliminary stories by The Info in September 2023 prompt a goal of $1 billion. By April, Bloomberg reported Paradigm was aiming to boost between $750 million and $850 million, which has now been confirmed with the newest announcement.
Matt Huang, Paradigm’s co-founder and managing associate, mirrored on the agency’s journey since its inception:
Once we based Paradigm in 2018, we believed that crypto can be one of the essential technical and financial shifts of the approaching many years. Six years later, that perception has solely gotten stronger.
With the brand new fund, the agency is poised to proceed its influential position in driving innovation and progress inside the crypto and blockchain industries.
Paradigm will not be the one enterprise agency investing in crypto startups. In April, Galaxy Digital introduced the launch of a brand new fund, aiming to boost $100 million for early-stage crypto firms.
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