Crypto-focused VC firm Paradigm announces $2.5BN venture fund

Crypto-focused VC firm Paradigm announces $2.5BN venture fund
фото показано с : coinjournal.net

2021-11-16 15:10

The firm intends to put the capital raised into crypto initiatives and protocols

On Monday, Paradigm, a crypto investment company led by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, announced that it had raised $2.5 billion for its crypto fund. The fund received significantly more than the $1.5 billion it projected when it started raising money last month.

Cryptocurrencies are owned by less than 10%

In the announcement, Huang and Ehrsam wrote to explain that even though crypto markets and their adoption is growing, they are yet to achieve their full potential. Their assertion is backed by the fact that crypto is owned by only a small percentage of the world population.

The co-founders added that the fund and its sheer size was an indication of the potential of crypto as a technology. They further explained that Paradigm planned to invest the capital alongside its already existing flagship fund.

“This new fund and its size are reflective of crypto being the most exciting frontier in technology. Over the past decade, crypto has come a long way. But cryptocurrencies are still owned by less than ten percent of the global population,” they wrote. 

Investing in Web3

The firm said the fund, Paradigm One, would be cultivated in emerging Web3 project initiatives, noting that the Web3 ecosystem is yet to unlock Web2’s reach in terms of user numbers. Paradigm also reaffirmed its commitment to facilitating crypto initiatives through incubation of and investment in ideas.

“We’ll continue incubating ideas. We’ll continue investing at the earliest stages when there’s just a glimmer of an idea. We’ll also partner with later-stage category leaders, and support companies at every stage in between.”

Paradigm isn't just stepping into the crypto hype – it has been around for the last three years and owns quite a diversified investment portfolio. The VC fund has investments in about 40 crypto companies, including Coinbase, Uniswap, Cosmos, FTX, dYdX, Matrixport, and Chainalysis.

Andreessen Horowitz, a16z, only recently (in June) launched its third crypto venture fund with a sum of $2.2 billion raised. At the time, this was the largest ever crypto fund, which the firm intended to be directed towards blockchain initiatives and digital asset projects. Partners leading the fund, Chris Dixon and Katie Haun, had aired similar sentiments to Paradigm’s, explaining that they saw crypto leading next computing innovation.

The Silicon Valley company intended to use the $2.2 billion fund to expand its team to enhance research and data science on crypto while also providing unmatched regulatory and operational proficiencies.

The post Crypto-focused VC firm Paradigm announces $2.5BN venture fund appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum Movie Venture (EMV) на Currencies.ru

$ 0.0504199 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0504199 - H: $0.0504199
Капитализация $331.091k Rank 99999
Доступно / Всего 6.567m EMV

firm crypto-focused venture fund paradigm announces 5bn

firm crypto-focused → Результатов: 42


Фото:

Visa, Paypal Invest in Crypto-Focused Blockchain Capital’s New $300 Million Fund

Visa Inc. and Paypal have invested in Blockchain Capital’s new fund. The venture capital firm focuses exclusively on the crypto ecosystem and blockchain technology. Blockchain Capital Raises $300M for Its New Fund Blockchain Capital announced Tuesday that it has raised $300 million for its 5th venture capital fund (Fund V). Paypal and Visa were among […]

2021-6-24 16:30


China’s BSN Developer Raises $30 Million Series A Round to Boost Global Market Presence

Announced on Wednesday, China’s Blockchain Service Network (BSN) developer, Red Date, has raised $30 million in a Series A funding round led by Hong Kong crypto-focused firm, Kenetic. The funding aims to enhance development on the network, increase its team members and boost market adoption across the globe, a statement read.

2021-6-11 21:35


BTX Capital provides $3M investment to open source API platform TheAPIS

TheAPIS, an open source, decentralized API platform, recently announced a $3 million strategic investment from crypto-focused venture firm BTX Capital. With their new partnership, they aim for a new era in which developers receive a share in the profits made by companies that benefited from the economies of scale and network effects they made possible.

2020-12-8 21:09


Avanti to Launch Crypto Banking Services in October; Will Roll Out A Digital Asset for Payments

Avanti Financial Inc has been approved by the Wyoming Division of Banking to operate a crypto-focused bank; the Caitlin Long led startup now plans to launch as early as October 2020. According to a blog post announcement by the firm, it will also pioneer a new digital asset dubbed ‘Avit,' which will improve dollar payment […]

2020-7-24 16:09


Crypto Financial Service Firm, BlockFi, Launches Its Mobile-Based App Offering 8.6% Interest

In a release to the BEG reporting desk this Thursday, BlockFi, a crypto-focused financial service company, announced the launch of its mobile application. The mobile app is available on both iOS and Android devices allowing users to manage crypto-backed loans, Zero fee mobile transactions, trading, and earn up to 8.6% interest APY on deposits through […]

2020-6-25 16:19


Andreessen Horowitz, A16z, Seeks $450 Million In Latest Crypto Funding: Report

Reports from the Financial Times confirmed that Andreessen Horowitz, the crypto-focused investment firm, is looking to raise additional funding of close to half a billion in this new round. The news comes at a time when the world’s economies are languishing in the Coronavirus epidemic and signals that investors are still willing to test the […]

2020-4-15 20:33


Фото:

Wave Financial Looks to Tokenize $20M Worth of Kentucky Bourbon Whiskey

Wave Financial Group, a regulated crypto-focused digital assets management firm, has joined forces with whiskey maker, Wilderness Trail Distillery, to tokenize $20 million worth of bourbon whiskey and make it available to accredited investors via a new fund called the Wave Kentucky Whiskey 2020 Digital Fund, reports Institutional Asset Manager on March 18, 2020.

2020-3-19 22:00


Cleveland Cavaliers Partner With UnitedCoin Crypto Firm, Shown at Rocket Mortgage FieldHouse

An important basketball club known as the Cleveland Cavaliers, also known as The Cavs, has announced the start of a partnership with the crypto-focused company UnitedCoin this week. The Cavs, together with the Cavs Legion GC, its associated esports club, is set to begin the partnership that was recently announced by the National Basketball Association […]

2019-7-16 02:04


‘Every Exchange Should Delist’: Crypto Influencer Trumpets May 1st Deadline For Ultimate Bitcoin SV Knockout

Anthony Pompliano says: if all exchanges delist BSV, this could act as a ”sign of solidarity behind Bitcoin”. But why? Anthony A sign of solidarity behind the only thing that matters Anthony is famous for his active participation in the cryptocurrency industry as the co-founder of Morgan Creek Digital – a crypto-focused asset management firm.

2019-4-15 11:36


Фото:

Novgorod goes to the $ 52.5 million fundraising circuit for Galaxy Digital Crypto-Lending Form

Crypto-focused merchant bank Galaxy Digital has recently led a $52.5 million fundraising round for crypto-lending firm BlockFi, according a blog post by the company July 24. Galaxy Digital CEO and founder Mike Novogratz confirmed in a tweet that he is, “excited to get into the crypto lending business.” With the new round of investment, the

2018-7-25 09:26