Announcing Paradigm's Third Fund

Jun 13, 2024 | Matt Huang

Paradigm has raised our third fund: an $850M venture fund focused on crypto projects at the earliest stages.

When we founded Paradigm in 2018, we believed that crypto would be one of the most important technical and economic shifts of the coming decades. Six years later, that belief has only gotten stronger.

Bitcoin has monetized to $1T+. Ethereum, Solana and other blockchains are scaling. Stablecoins are being adopted globally. Frontier research speeds along. New infrastructure is enabling consumer applications. Hundreds of millions of people own crypto. And crypto is now a main character on the world’s political stage.

In that time, Paradigm has been proud to be involved as early contributors to and the first outside investor in projects that have shaped the crypto landscape. Uniswap pioneered the use of AMMs for decentralized exchange. Optimism invented one of the leading models for blockchain scaling. Flashbots defined the concept of MEV and reinvented how blocks are built. This is the sort of early-stage work that we love contributing to, and it’s what we’ll be increasingly focused on going forward (including through our EIR & incubation programs).

It’s more important than ever to accelerate a positive future for crypto, not just as investors but as builders. Over the past few years, we’ve launched several open source projects including Foundry, a popular Ethereum development tool, and Reth, a high performance Ethereum execution node, with the goal of pushing the crypto frontier forward. We’re excited to dedicate significant effort to such projects over the coming years.

Thank you to our community of portfolio founders and collaborators, as well as to our limited partners, for their support and partnership with Paradigm.

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Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice or investment recommendations. This post reflects the current opinions of the authors and is not made on behalf of Paradigm or its affiliates and does not necessarily reflect the opinions of Paradigm, its affiliates or individuals associated with Paradigm. The opinions reflected herein are subject to change without being updated.