SkyBridge Capital founder Anthony Scaramucci congratulated Paradigm‘s Matt Huang on Wednesday on the launch of the venture capital firm’s new fund, dedicated to technical frontier technologies.
Investments Across Crypto, AI, Robotics
Scaramucci quoted Huang’s X post on the announcement, saying, “Awesome. Congratulations, Matt.”
Paradigm raised $1.2 billion to launch the new fund that will extend its investments beyond cryptocurrency into AI, robotics and other areas of the “technical frontier,” co-founder Huang said.
The San Francisco-based firm said it’s ready to back the “most ambitious builders,” and that it would continue to research and build where it “accelerates the industry.”
Paradigm’s Journey
Paradigm was founded by Huang, a former Sequoia Capital partner and Fred Ehrsam, co-founder of Coinbase Global Inc. (NASDAQ:COIN). It has approximately $12.7 billion in assets under management, according to the most recent regulatory filings.
In 2021, Paradigm raised a $2.5 billion venture fund to invest in the “next generation” of cryptocurrency companies and protocols; in 2024, it followed up with a third fund targeting projects at the earliest stages.
The venture capital firm has backed prominent cryptocurrency-linked platforms, including Coinbase and Hyperliquid (CRYPTO: HYPE), apart from Kalshi, a leading prediction market.
Paradigm’s new fund comes amid reports that cryptocurrency-focused venture capital firms are finding it tough to attract new funds in the current bear market.
Image via Shutterstock/ Al Teich
Recent Comments