Paradigm, a cryptocurrency investment firm, has announced the launch of a $ 2.5 billion New Venture Fund to extend its portfolio of crypto companies and protocols
Paradigm Fund of $2.2 Billion in June
Paradigm co-founders Fred Ahrsam and Matt Huang noted in a November 15 statement that “the fund and its scale represent crypto as the most intriguing future in technology.”
According to Money Occasions, the foundation is presently the largest among crypto VC firms, having raised $ 2.2 billion from Andreesen Horowitz (a16z) in June of this year.
The new venture fund will be distributed to which segments of the crypto business, according to the release.
Approximately 11 of the 40 firms and projects in Paradigm’s portfolio, including protocols, have previously invested in bitcoin projects that use Website 3 to deploy their apps. In addition to cryptocurrency exchanges, credit, and lending platforms, Paradigm has made investments. Coinbase, FTX, Uniswap, and Sky Mavis are among the most well-known companies in its portfolio.
Despite the fact that Paradigm’s new fund has been dubbed “the greatest Ehrsams in crypto,” he and Huang tweeted that they are “just getting started.”
Just getting started https://t.co/V8fXb3hCTt
– Fred Ehrsam (@Fehrsam) November 15, 2021
In the release, Ehrsam and Huang claimed that their goal of becoming “the first and most helpful partners for crypto businesses and communities” has not altered.
The Solana Jet Mechanism-based credit protocol and the AI-based, non-fungible token-based fighting game Arena are two of Paradigm’s latest investments. In August, the business boosted its exposure to NFT platforms by investing in Royal and Fractional.
Paradigm, a cryptocurrency investment firm, said on November 15 that it was establishing a $ 2.5 billion New Venture Fund to assist them in continuing to invest in businesses and protocols.