Move on, Andreessen Horowitz! Paradigm just created the biggest cryptocurrency fund
Paradigm, a cryptocurrency-focused investment firm created by Coinbase co-founder Fred Ehrsam, announced the biggest crypto venture fund to date this Monday.
With a war chest of $ 2.5 billion, Paradigm One topped the $ 2.2 billion fund launched by Silicon Valley venture capital giant Andreessen Horowitz (a16z) at the end of June.
While the fact that investors are throwing that much money at crypto might prompt fears of a market top, co-founder Fred Ehrsam, a member of the “Coinbase mafia,” tweeted that things were just getting started.
In a blog post, Paradigm says it will continue to invest in start-ups, saying its mission has not changed.
The San Francisco-based investment firm raked in $400 million for its first cryptocurrency fund in October 2018. Yale University was among the investors who helped raise the aforementioned amount of money.
