Venture Capital, Paradigm, has confidence in the cryptocurrency industry. Indeed, it has just launched an investment fund endowed with 2.5 billion dollars to finance the future nuggets of the sector. This new capital complements Paradigm’s main investment fund, also aimed at the digital assets sector.
Paradigm launches new investment fund for the crypto sector
The Paradigm venture capital firm was created in 2018. Its primary objective is to finance companies in the cryptocurrency sector. She has participated in numerous fundraising events, including those of Chain analysis, Thesis and NFTs Showtime.
Paradigm is now thinking bigger and is launching a large-scale investment fund that will also be exclusively dedicated to the crypto-asset sector. Paradigm specifies that this venture capital fund will value $ 2.5 billion through a press release published on its website.
The company implicitly adds that it will favour participation in fundraising for new protocols and “next generation” companies. We are thinking in particular of decentralized finance (DeFi). Paradigm will now have two separate funds: the first created in 2018 and the new $ 2.5 billion.
The bright future of the crypto sector according to Paradigm
In that same press release, Paradigm estimates that the growth of Web3 applications is exponential and that we are still far from the billions of users of Web2 applications. Therefore, the venture capital company wants to get started in this very promising sector as quickly as possible.
It has been several months that Paradigm itself sought to raise significant sums to create its new fund. In particular, the company has recruited staff to achieve this objective. Therefore, the communication of the day seems to be the culmination of the work done by Paradigm.
Investment funds for crypto and blockchain companies have been on the rise for the past few months. Fundraising is more and more numerous, and the sums are more and more important.
The cryptocurrency industry can even hit more ‘classic’ venture capital firms. We are, of course, thinking of Sorare’s recent record fundraising ($ 680 million), which is to date the most important carried out by a French Tech player across all sectors.
