Paradigm seeks to raise up to $850M for new fund: Bloomberg

Paradigm is taking advantage of the bull market to raise a new fund, Bloomberg reported

article-image

Paradigm and Adobe Stock modified by Blockworks

share

Paradigm is reportedly in talks to raise nearly a billion dollars for a new fund. 

Bloomberg first reported the news, citing sources familiar. The fund is seeking to raise $750 to $850 million. 

Paradigm’s fund, if it raises $750 million or more, would be the largest one since crypto crashed in 2022. Prior to the depegging of Terra’s stablecoin and the collapse of FTX, Paradigm raised a $2.5 billion fund in 2021. 

The new fund comes as Paradigm continues to invest in the crypto space. Late last month, Paradigm led a $55 million Series A seed round for Succinct. 

Last year, Fred Ehrsam announced that he was moving to a general partner role from managing partner. Ehrsam founded Paradigm alongside Matt Huang in 2018. Huang, in turn, took on more of a leadership role, the firm said at the time. 

Ehrsam founded Coinbase alongside Brian Armstrong. 

Huang was a notable witness in the trial of Sam Bankman-Fried back last year. Huang testified that Paradigm invested $278 million in FTX and FTX.US. Huang said he voiced concerns over the lack of a traditional corporate governance model but Bankman-Fried was “resistant” to name investors like Paradigm to board seats.

Outside of investments, Paradigm announced last September that it was launching a public policy arm focused on policymaking in the US. 

The Policy Lab was designed to provide research to “guide policy decisions,” the company’s special counsel, Rodrigo Seira, said at the time.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research

article-image

Bitcoin needs a price, but its magic runs deeper

article-image

Circle had a pretty successful first day of trading, but what’s next for the stablecoin issuer?

article-image

Solana’s USDC caught a boost after being paired with the TRUMP memecoin

article-image

The stablecoin issuer’s successful first day of trading is likely to spur more crypto IPOs, industry watchers say

article-image

Job openings rallied and continuing claims stalled ahead of May’s employment report

article-image

A group of Twitch streamers battle for bitcoin. Will their chats help them?