Coinbase co-founder launches $2.5 billion crypto venture fund | Mint
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Business News/ Markets / Cryptocurrency/  Coinbase co-founder launches $2.5 billion crypto venture fund
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Coinbase co-founder launches $2.5 billion crypto venture fund

The size of Paradigm’s fund highlights a continuing boom in the crypto industry
  • Paradigm invests in crypto shops big and small, with as much as $100 million-plus or as little as $1 million
  • San Francisco-based investment firm Paradigm said it was starting a $2.5 billion venture-capital fund aimed at the 'next generation of crypto companies and protocols' (REUTERS)Premium
    San Francisco-based investment firm Paradigm said it was starting a $2.5 billion venture-capital fund aimed at the 'next generation of crypto companies and protocols' (REUTERS)

    Crypto capital-raising activity appears to be reaching a fever pitch amid this year’s torrid rally in digital-asset prices. 

    San Francisco-based investment firm Paradigm on Monday said it was starting a $2.5 billion venture-capital fund aimed at the “next generation of crypto companies and protocols." Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang’s Paradigm One would be the largest new venture-capital fund aimed at the industry, according to the Financial Times, which reported on it earlier. 

    The size of Paradigm’s fund highlights a continuing boom in the crypto industry. 

    “This new fund and its size are reflective of crypto being the most exciting frontier in technology. Over the past decade, crypto has come a long way," Ehrsam and Huang wrote in a blog post on Monday. Indeed, the three-year-old firm’s fund raising outstripped VC firm Andreessen Horowitz’s $2.2 billion fund earlier in 2021 amid record-breaking venture capital raising activity this year. 

    Paradigm invests in crypto shops big and small, with as much as $100 million-plus or as little as $1 million, the company’s website says. The shop intends to continue to invest in startups with “just a glimmer of an idea" as well as later-stage companies, Ehrsam and Huang said. 

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    This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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    Published: 17 Nov 2021, 05:39 AM IST
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