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

Decoding crypto and the markets. Daily, with Byron Gilliam.

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 Report Templates.png

Research

Maple Finance has successfully navigated significant market challenges through its strategic pivot to secured lending (Maple v2) and the launch of its Syrup product. Syrup has become a primary growth driver, delivering sustainable, outperforming stablecoin yields and rapidly increasing TVL. The upcoming custody-first Bitcoin staking product (istBTC) presents another significant avenue for expansion. Crucially, Maple has achieved operational profitability, a key inflection point that, combined with a fully vested token and active buyback mechanism, strengthens its investment case. While valuation metrics suggest potential undervaluation relative to peers and growth, the primary forward-looking risk identified is the long-term sustainability of its current high-take-rate collateral staking revenue model.

article-image

Prediction markets show that people bet in anticipation of things happening far too often

article-image

The agency’s final deadline is in October

article-image

Higher inflation historically lags behind tariff implementation, so don’t celebrate just yet

article-image

VanEck launches its first tokenized fund after financial giants convene at SEC roundtable

article-image

The “GameFi” platform that began its development while part of Zynga is launching another NFT collection

article-image

Funds disagree about which metrics matter, but agree fundamentals are key