Paradigm targets $850m crypto fundraiser
Paradigm is looking to raise new funds for crypto investments as venture capitalists flock back to the burgeoning digital asset industry.
Crypto investment company Paradigm has plans to raise as much as $850 million for a fresh fund following Bitcoin’s recovery beyond an all-time high and cryptocurrency’s ascent near its 2021 peak, Bloomberg reported on April 2.
According to RootData, investments into crypto protocols and ideas jumped by over 50% last month, as capitalists injected around $1.1 billion into the digital asset sector. Defi solutions running on Ethereum, Polygon, and other decentralized finance-centric blockchains attracted the most funds.
Paradigm aims to pull together at least $750 million in what could be the firm’s largest haul since 2021. At the time, the company raised $2.5 billion for a crypto fund, the largest ever of its kind until Andreessen Horowitz (a16z) fielded a $4.5 billion crypto-investment vehicle in May 2022.
Other VCs including a16z, Hack VC, and Hivemind are involved in fundraisers ranging from $50 million to $150 million as crypto garners steam once again.
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