Announcing Paradigm's Third Fund

Paradigm has raised its third fund, an $850M venture fund focused on crypto projects at the earliest stages. The firm, founded in 2018, says its belief that crypto will be one of the most important technical and economic shifts of the coming decades has only strengthened over six years. It cites Uniswap's use of AMMs for decentralized exchange, Optimism's blockchain scaling model, and Flashbots' definition of MEV as early work it has backed. Paradigm also says it has launched open source projects including Foundry and Reth, and plans to focus more on early-stage work and dedicate significant effort to such projects.