Paradigm, the venture firm launched by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang, now has $2.5 billion for placing bets on the next generation of leading crypto projects.
Paradigm announced Monday the completion of its fundraising efforts. CoinDesk reported in October that the firm was raising around $1.5 billion, according to investor documents seen at the time.
“This new fund will invest alongside our existing flagship fund across all stages and geographies,” Paradigm’s founding team said in Monday’s blog post.
The bountiful war chest suggests continued enthusiasm among well-connected crypto investors as bitcoin and ether flirt with all-time highs.
Andreessen Horowitz made waves in June when it announced a $2.2 billion fund – the largest for a crypto fund at the time. Paradigm’s latest would appear to top that.