This week, Paradigm unveiled an $850 million cryptocurrency investment fund. This is the company’s 3rd fund. We take stock.
Paradigm launches its 3rd cryptocurrency investment fund
While the cryptocurrency market has emerged from its bear market, driven by spot Bitcoin ETFs, investments in the industry are still struggling to regain certain levels that they may have experienced in the past. This does not mean, however, that the projects are not building, and it is to encourage this emergence of talents that Paradigm has formalized its new investment fund.
Rumors concerning this had already emerged last spring, and the venture capital company actually confirmed this new development at the end of the week. Thus, the allocation of the said fund is in the upper range of what was expected, namely 850 million dollars :
Paradigm has raised our third fund: an $850 million venture capital fund focused on early-stage crypto projects. When we founded Paradigm in 2018, we believed that crypto would be one of the most important technical and economic changes of the coming decades. Six years later, this conviction has only grown stronger.
In terms of fundraising, only 5 of them have exceeded $100 million in 2024, according to data from DefiLlama. These are EignenLayer, Monad, Farcaster, HashKey and Berachain. Among these table rounds, Paradigm, for its part, managed those of Monad and Farcaster.
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For its part, the Bitcoin (BTC) price is moving at just over $66,000 at the time of writing, without any particular direction over the last 24 hours.
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Source: Paradigm
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