Paradigm seeks to raise up to $850 million for new crypto fund

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Paradigm, a crypto-focused venture capital firm, is in talks to raise between $750 million and $850 million in a new financing round.

Paradigm’s objective

Venture capital firm Paradigm is looking to raise between $750 and $850 million for its new fund, which would make it the largest since the crypto market crashed in 2022. Paradigm, founded by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, describes itself as a “research-driven technology investment firm”. It is recognized as one of the leading venture capital firms backing crypto, alongside Andreessen Horowitz, Digital Currency Group and Pantera Capital, among others.

Impact on the crypto industry

Paradigm’s decision to raise up to $850 million comes amid a recent recovery in the crypto market, which influenced the company’s choice. Despite its continued support for crypto over the years, Paradigm has been criticized for an alleged lack of commitment to the industry. Events such as the reduction of its stake in FTX to zero and its potential pivot towards investments in artificial intelligence have sparked discussion and controversy.

Conclusion

Paradigm, a leading venture capital firm in the crypto space, is looking to raise up to $850 million for a new fund, which would be the largest since the recent crypto market recovery. Founded by key industry figures, Paradigm continues to invest in the crypto space and make strategic decisions that shape its role in the digital financial ecosystem.

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