Paradigm Announces New $850M Venture Fund Focused on Early-Stage Crypto Projects

Paradigm has raised their third fund, which is reportedly an $850 million venture fund focused on crypto projects at the earliest stages.

When they founded Paradigm in 2018, they believed that crypto would be “one of the most important technical and economic shifts of the coming decades.”

Six years later, that belief has “only gotten stronger,” according to Matt Huang, Co-founder and Managing Partner at Paradigm.

As noted in a blog post by Paradigm, Bitcoin has monetized to $1T+. Ethereum, Solana and other blockchains are scaling.

As mentioned in the update, stablecoins are being adopted globally.

Paradigm’s management also stated that frontier research speeds along.

New infrastructure is enabling consumer applications. Hundreds of millions of people “own crypto. And crypto is now a main character on the world’s political stage.”

In that time, Paradigm has been pleased to be “involved as early contributors to and the first outside investor in projects that have shaped the crypto landscape.”

Uniswap began the use of AMMs for decentralized exchange.

Optimism invented one of the models for blockchain scaling.

Flashbots defined the concept of MEV and “reinvented how blocks are built.”

Matt Huang added that this is the sort of early-stage work that they love “contributing to, and it’s what we’ll be increasingly focused on going forward (including through our EIR & incubation programs).”

It’s more important than ever “to accelerate a positive future for crypto, not just as investors but as builders.”

Huang also mentioned that over the past few years, they’ve launched several open source projects “including Foundry, a popular Ethereum development tool, and Reth, a high performance Ethereum execution node, with the goal of pushing the crypto frontier forward.”

They’re pleased to dedicate significant effort “to such projects over the coming years.”

Matt Huang, Co-founder and Managing Partner at Paradigm, concluded by thanking his  community of portfolio founders and collaborators, as well as their limited partners, for their support and partnership with Paradigm.

Previously, Matt was a partner at Sequoia Capital focusing “on early-stage venture investments including leading the firm’s cryptocurrency efforts.”

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