Paradigm wants to raise $850 million! Bloomberg: Largest in two years

According to reports, Bloomberg reported that crypto venture capital Paradigm is seeking to raise a new crypto fund of up to US$850 million. If its current fundraising is successfully completed, it will become the first crypto fund to be launched in May 2022. The largest cryptocurrency fund ever. At the same time, as the price of Bitcoin fell and hit a new low in March, the amount of crypto financing also increased by 52% that month.

Paradigm wants to raise US$850 million, Bloomberg: The largest scale in two years

As the encryption market has recovered since 2023, venture capital institutions are also gearing up, eager to invest in cash cows.

Paradigm, a well-known crypto venture capital firm, was also reported to be discussing with investors at this time to raise a crypto fund of up to US$850 million.

Previously, Paradigm last established a venture fund in November 2021, with an amount of US$250 million.

Bloomberg quoted people familiar with the matter as saying that this will be one of the largest fund-raising activities in the past two years. If Paradigm successfully completes this financing, it will be the largest cryptocurrency fund since May 2022 Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Cryptocurrency Fund Crypto

It is reported that another venture capital giant a16z (Andreessen Horowitz) raised a staggering US$4.5 billion at the time.

Reviewing Paradigm investment projects

Previously, Paradigm’s well-known investments in the encryption field include Coinbase, Blast, Optimism, Uniswap and friend.tech.

However, the company has also experienced investment failures, raising US$278 million for the defunct FTX exchange from 2021 to 2022. Co-founder Matthew Huang also admitted that: due diligence was insufficient and was cited by FTX Attracted by the rapidly expanding market share, it is also over-reliant on information provided unilaterally by SBF.

It is understood that Paradigm led the Series A financing of ZK’s new startup team Succinct Labs this month, raising US$55 million for it.

The amount of crypto financing increased by 52% in March

Rootdata data shows that as the price of Bitcoin hit a new high in March, the amount of crypto financing also increased for three consecutive months, 3 There was a 52% growth in the month, and the total financing amount in the month was as high as 1.16 billion US dollars.

It is reported that this is the second-highest amount since 2023, second only to the US$1.29 billion in November last year.

Among them, in terms of fields, most of the funds are invested in on-chain infrastructure and DeFi projects, and the least is NFT projects; in terms of blockchain, most funds are invested in Ethereum, followed by Polygon and BNBChain; in terms of region, about one-third of the funds are concentrated in the United States.

In addition, more than 50% of the investment amounts fall between US$1 million and US$5 million, and only about 10% invest more than US$20 million.

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