Paradigm Launches $2.5 Billion Crypto Fund

Crypto-focused investment firm Paradigm is launching a new $2.5 billion venture fund, Matt Huang and Fred Ehrsam, the company’s co-founders and managing partners, announced on Monday. 

The investment will be used to “continue investing in the next generation of crypto companies and protocols.” The fund will also operate alongside Paradigm’s existing flagship fund, the co-founders said.

“This new fund and its size are reflective of crypto being the most exciting frontier in technology. Over the past decade, crypto has come a long way. But cryptocurrencies are still owned by less than ten percent of the global population,” Huang and Ehrsam wrote in a blog post. 

“The journey is just beginning, and the potential of crypto has never been more clear,” they added.

The company declined to provide additional comments beyond the blog post when requested by Blockworks on Monday.

In recent months, the firm has led token sales and investment rounds for automated market maker Osmosis and decentralized derivatives exchange company, dYdX, Blockworks previously reported. 

Paradigm invests in crypto companies, protocols, and currencies from early stage to late-stage and stages in between.

The firm’s portfolio also includes 40 different investments to date such as companies like Uniswap, FTX, Fireblocks, BlockFi and Matrixport, according to its website.

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Source: https://blockworks.co/paradigm-launches-2-5-billion-crypto-fund/