Venture capitalists are capitalizing on the recent resurgence of the cryptocurrency market as they rush to raise new funds. Paradigm, a crypto-focused firm co-founded by Fred Ehrsam, the co-founder of US-based crypto exchange Coinbase, and Matt Huang, a former partner at Sequoia Capital, is reportedly in discussions with investors to secure between $750 million and $850 million for its latest fund.
According to a Bloomberg report on the issue, if successful, this financing round would be the largest in the industry since the market crash.
Paradigm Aims To Surpass $1 Billion Target
The crypto venture capital landscape experienced a significant setback following a steep downturn in digital asset prices after May 2022. However, Paradigm aims to leverage the current market recovery and investor confidence to raise substantial capital for its new fund.
In 2021, Paradigm raised a record-breaking $2.5 billion fund, which was the largest-ever crypto investment vehicle at the t
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