Summary
TLDR: Paradigm is in talks to raise nearly a billion dollars for a new fund, aiming for $750 to $850 million. This would be the largest fund since the crypto crash in 2022. Paradigm continues to invest in the crypto space and recently led a $55 million seed round for Succinct. Co-founder Fred Ehrsam moved to a general partner role, while co-founder Matt Huang took on more leadership. Huang was a witness in the trial of Sam Bankman-Fried and testified about Paradigm’s investments in FTX. Paradigm also launched a public policy arm focused on policymaking in the US.
Key Points
1. Paradigm is reportedly in talks to raise nearly a billion dollars for a new fund, seeking to raise $750 to $850 million.
2. If the fund raises $750 million or more, it would be the largest one since the crypto crash in 2022, with Paradigm having previously raised a $2.5 billion fund in 2021.
3. Paradigm continues to invest in the crypto space, recently leading a $55 million Series A seed round for Succinct and launching a public policy arm focused on policymaking in the US.