Paradigm launches new investment fund for the crypto sector
The Paradigm venture capital firm was created in 2018. Its primary objective is to finance companies in the cryptocurrency sector. She has thus participated in numerous fundraising events, including those of Chainanalysis, Thesis and NFTs Showtime.
Paradigm is now thinking bigger and is launching a large-scale investment fund that will also be exclusively dedicated to the crypto-asset sector. Through a press release published on its website, Paradigm specifies that this venture capital fund will have a value of $ 2.5 billion.
The company implicitly adds that it will favor participation in fundraising for new protocols and “next generation” companies. We are thinking in particular of decentralized finance (DeFi). Paradigm will now have two separate funds: the first created in 2018 and the new $ 2.5 billion.
👉 Read – Decentralized Exchange (DEX) dYdX Raises $ 65M From Paradigm
The bright future of the crypto sector according to Paradigm
In that same press release, Paradigm estimates that the growth of Web3 applications is exponential and that we are still far from the billions of users of Web2 applications. The venture capital company therefore wants to get started in this very promising sector as quickly as possible.
It has been several months that Paradigm itself sought to raise significant sums for the creation of its new fund. In particular, the company has recruited staff to achieve this objective. The communication of the day therefore seems to be the culmination of the work done by Paradigm.
Investment funds for crypto and blockchain companies have been on the rise for the past few months. Fundraising is more and more numerous and the sums more and more important.
The cryptocurrency industry can even hit more ‘classic’ venture capital firms. We are of course thinking of Sorare’s recent record fundraising ($ 680 million), which is to date the most important carried out by a French Tech player, across all sectors.
👉 To go further – Blockchain Capital launches a $ 300 million fund with the participation of PayPal and Visa
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About the author: Benjamin Allouch
Formerly a lawyer specializing in personal data and digital law, I quickly became interested in Bitcoin, blockchain technology and their legal implications. I am now an independent consultant and writer in the field of cryptocurrencies and blockchain.
All articles by Benjamin Allouch.