Paradigm Closes $850M Crypto Fund, Promotes Konstantopoulos to General Partner Amid Bitcoin Surge
June 14, 2024Paradigm, a leading web3 venture capital firm, has closed an $850 million early-stage crypto venture fund.
This fund is one of the largest raises in the industry and marks Paradigm's shift towards early-stage investments.
The shift follows the recent departure of co-founder Fred Ehrsam.
Paradigm is known for investing in notable projects like Uniswap and Optimism.
In 2021, Paradigm raised a record-breaking $2.5 billion fund.
The increase in cryptocurrency-focused fund launches in 2024 is driven by Bitcoin's rally to record highs and potential approval of Ether-focused ETFs.
Georgios Konstantopoulos has been promoted to a general partner at Paradigm.
This promotion underscores Paradigm's commitment to investing in the growing and increasingly popular crypto space.
Summary based on 3 sources
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Sources
Cointelegraph • Jun 13, 2024
Paradigm raises $850M for third crypto fundThe Block • Jun 13, 2024
Paradigm raises $850 million for a third investment fundCryptoCurrencyNews.com • Jun 13, 2024
Paradigm Raises $850 Million for Early-Stage Crypto Venture Fund - CryptoCurrencyNews