Move over Andreessen Horowitz: Paradigm’s new $2.5 billion venture fund, the crypto industry’s largest to date, bolsters the VC firm’s position as a leading contender. The fund plans to invest in crypto companies at all stages, particularly investments aimed at transforming finance and tech.
The new fund from Paradigm surpasses the $2.2 billion crypto fund Andreessen Horowitz announced in June. Founded in 2018 by former Sequoia Capital partner Matt Huang and Coinbase co-founder Fred Ehrsam, Paradigm has made investments in some of the biggest names in crypto, including crypto exchange FTX; Sky Mavis, developer of the non-fungible token-based game Axie Infinity; and crypto lending platform BlockFi, which is angling to go public.
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