Paradigm unveils $2.5bn venture capital fund

Crypto venture capital firm Paradigm has just launched a $2.5bn venture capital fund that it will use to pivot towards new uses and applications of blockchain and crypto.

Founded by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, Paradigm has big plans for crypto space.

The fund is de facto larger than the previous record-setter, the fund owned by Andreessen Horowitz.

The fund exemplifies its creators’ ambition to introduce a new breed of “crypto-native” VC firms that are going to clash with mainstream financial institutions and “outmanoeuvre” them.

Paradigm has already invested in numerous high-profile organizations in crypto space, including but not limited to BlockFi, Uniswap, Sky Mavis, FTX, and others.

The new fund will provide the company with the funds it needs to continue backing up-and-coming or established crypto entities that have helped establish the space in the first place.

Paradigm presently supports a modest team of only 30 employees. One of them is Nathan Apsel who is the company’s chief financial officer. There are several other high-profile names who are part of the company and will support it as it pursues new opportunities.

While venture capital firms have been generally slow to embrace crypto, Ehrsam and Huang have been determined to show that crypto is a worthwhile investment vessel. They have been both commended and criticized for their forays in crypto space.

The recent investment proves they are prepared to scale up their offer and continue to bolster the crypto space. Horowitz’s fund may now have to take the backseat as Paradigm steps into the ring.

For those of you who are not venture capitalists, there is still a way to have fun using crypto. Just visit Bitcasino, 1xBit or FortuneJack.

Source

Updated: 11/16/2021 — 15:00