Paradigm, a crypto-focused venture capital firm, has announced a new $850 million fund. Matt Huang, co-founder and Managing Partner at Paradigm, mentioned that the VC platform’s third fund will target crypto projects in their earliest development stages.

This announcement aligns with earlier reports suggesting that Paradigm was planning to raise a third fund for crypto. The confirmation places the San Francisco-based investment firm at the forefront of the next wave of crypto projects.

Paradigm has been an early supporter of several leading projects in the crypto industry. Notable examples include Uniswap, a decentralized exchange that pioneered Automated Market Makers (AMMs); Optimism, a Layer 2 solution for the Ethereum network; and Flashbots, a project that defined the Miner Extractable Value (MEV) concept. Recently, Paradigm also backed a $70 million funding round for the BTC staking protocol Babylon.

“When we founded Paradigm in 2018, we believed that crypto would be one of the most important technical and economic shifts of the coming decades. Six years later, that belief has only gotten stronger,” Huang said.

The new fund will continue to focus on early-stage projects, maintaining Paradigm’s commitment to fostering innovation in the crypto space. The firm is also involved in significant open-source projects, including the popular Ethereum development tool Foundry and the Ethereum execution node Reth.

Huang highlighted the rapid evolution of the crypto space, noting that Bitcoin has monetized to over $1 trillion. Meanwhile, top blockchain networks like Ethereum and Solana are scaling amid new innovations. The global crypto market is experiencing a significant shift, with increased adoption of stablecoins and new infrastructure enabling more consumer applications.

The number of people who own crypto has reached hundreds of millions. In a notable election year, crypto has emerged as a “main character” on the global stage.

For more updates on the latest developments in the crypto world, stay tuned to Global Crypto News.

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