Paradigm Closes Third Fund at $1.2B, AUM Hits $12.7B

Paradigm has closed its third investment fund at $1.2 billion, the venture capital firm said. The raise pushes the firm's total assets under management to roughly $12.7 billion.

The firm is a dedicated crypto investor, founded by Matt Huang and Fred Ehrsam. It has taken large stakes in companies including Coinbase, Uniswap, and Optimism. Paradigm is known for its research-driven approach and long-term holding strategy.

The fund close is one of the larger raises in the crypto venture space this year. It comes after a period of reduced fundraising in 2023 and early 2024, when many crypto VCs struggled to secure commitments. The size of this fund suggests that top-tier crypto firms can still attract significant capital.

The new fund will be deployed over the next several years across early-stage crypto and blockchain startups. Paradigm typically invests in infrastructure, decentralized finance, and scaling solutions.