COIN - Crypto VC Paradigm Looks To Raise $750M For Investments | Benzinga
The recent rebound in cryptocurrency prices ignited a fresh wave of fundraising activity among venture capitalists, with Paradigm, a leading crypto-focused investment firm, reportedly in discussions to secure a new fund valued between $750 million and $850 million.
What Happened: This ambitious endeavor is spearheaded by Coinbase Global Inc. (NASDAQ:COIN) co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, Bloomberg reported.
Should Paradigm’s fundraising efforts culminate at the lower end of their target, the $750 million fund would mark a significant milestone as the largest in the industry since its recent downturn.
This development followed the record-setting $4.5 billion fund raised by Andreessen Horowitz in May 2022, before the sharp decline in digital asset values challenged the industry’s recovery efforts.
Paradigm’s fundraising history included a $2.5 billion fund raised in 2021, a testament to its storied past and bullish ...