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.
Paradigm raises $850 million for a third investment fund https://t.co/D4WDlxptDI
— The Block (@TheBlock__) June 13, 2024
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.
.@paradigm Secures $850 Million for Third #Crypto Fund, Targets Early-Stage Projects https://t.co/vI0G0t0ERk
— Bitcoin.com News (@BTCTN) June 13, 2024
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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