TLDR:
– Paradigm completed its third fund, raising $850 million to invest in early-stage crypto projects.
– Despite a rebound in the fortunes of some VCs, many have not yet recovered to the heights of the last bull market.
Venture capital firm Paradigm has completed its third fund, raising $850 million to invest in the earliest stages of crypto projects. The company saw its funds’ value surpass $10 billion last year, reflecting the broader revival of the crypto market. Co-founder Matt Huang emphasized the importance of accelerating a positive future for crypto, both as investors and builders.
Paradigm has been actively involved in launching open-source projects to advance the crypto frontier, with plans to continue supporting such initiatives in the coming years. However, despite the renewed optimism in the industry, many crypto VCs have not fully recovered from the last bull market. In 2021, Paradigm reported $13.2 billion in assets under management, but as of 2022, the company now has fewer employees, with only 59 staff members.
The completion of Paradigm’s $850 million fund highlights the ongoing growth and potential in the crypto space, as venture capitalists continue to play a critical role in supporting early-stage projects and innovation.
