Paradigm unveils new $2.5B crypto fund

Paradigm unveils new $2.5B crypto fund

Crypto investment firm Paradigm has revealed a new $2.5 billion”New Venture Fund” to expand its investment into cryptocurrency companies and protocols.

According to a Nov. 15 announcement, Paradigm co-founders Fred Ahrsam and Matt Huang stated that “the fund and its size are reflective of crypto being the most exciting frontier in technology.”

The Financial Times reported that the funding pool is now the largest among VC crypto funds, edging out Andreesen Horowitz’s (a16z) $2.2 billion raise in June of this year.

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The announcement did not state which sectors within the cryptocurrency industry the New Venture Fund will be allocated to.

Paradigm has historically invested in crypto projects that utilize Web 3.0 to deploy their applications, with roughly 11 of the 40 companies and projects in its portfolio comprising DeFi

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