TLDR:
- Paradigm, a crypto venture capital firm, is looking to raise between $750 and $850 million for a new fund.
- This potential fundraising would be the industry’s biggest since the recent crypto winter slump.
The crypto-related venture capital firm Paradigm is looking to raise between $750 and $850 million for a new fund, Bloomberg reported. The firm, co-founded by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huan, previously raised $2.5 billion for a fund in Nov. 2021 during the height of the bull run. This move comes as the crypto industry enjoys a bullish trend following the approval of spot bitcoin ETFs by the SEC. VC funding for crypto projects has also surged recently, with a 52.5% increase in March.
Full Article:
Paradigm, a crypto venture capital firm, is reportedly seeking to raise between $750 and $850 million for a new fund, marking a significant move in the industry. The potential fundraising, if completed at the lower end of the range, would still represent the largest in the industry since the recent crypto winter slump.
Founded by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huan, Paradigm had previously raised $2.5 billion for a fund during the high of the bull run in November 2021. The firm’s latest fundraising efforts come as the crypto industry experiences a bullish trend following the approval of spot bitcoin exchange-traded funds (ETFs) by the SEC.
The venture capital landscape for crypto projects has seen an increase in funding, with VC investment in crypto projects surging 52.5% month-over-month in March. This uptick in fundraising activity reflects growing investor interest in the crypto space and the potential for significant returns.
