Paradigm Raises $850 Million for Third Crypto Venture Capital Fund

Prominent crypto venture capital firm Paradigm has made waves in the industry with the announcement of its third fund, raising an impressive $850 million dedicated to investing in early-stage crypto projects. Founded in 2018, Paradigm has been a key player in the crypto space, believing that crypto will be one of the most important technical and economic shifts of the coming decades.

In a recent post announcing the fund, Paradigm co-founder Matt Huang expressed the firm’s unwavering conviction in the potential of crypto, stating that “crypto is now a main character on the world’s political stage.” This sentiment comes at a time when crypto legislation is taking center stage in the American presidential elections and Europe’s MiCA stablecoin rules are set to take effect on June 30.

In response to the evolving landscape around crypto, Paradigm has announced its intention to engage in crypto policy in 2023, appointing Washington veteran Alex Grieve as its government affairs lead. Paradigm has a history of successful early-stage investments, including backing projects like Uniswap and Flashbots. However, the firm’s investment record has not been without controversy, notably investing in FTX and FTX.US.

Paradigm was originally founded by Huang and Fred Ehrsam, who previously co-founded Coinbase. The firm’s areas of interest for potential portfolio companies include multi-chain infrastructure, crypto games, prediction markets, and more. With the launch of its third fund, Paradigm continues to solidify its position as a major player in the crypto investment space.