Bloomberg reported on Wednesday that Paradigm, a cryptocurrency venture capital firm, is in negotiations with investors to raise $750 million to $850 million for a new fund.
If the transaction is completed at $750 million, the fund will become the largest in the industry since the market crash. The peak of fundraising for cryptocurrency venture capital funds occurred in May 2022 when venture capital firm Andreessen Horowitz (a16z) raised a $4.5 billion fund. Shortly thereafter, digital asset prices plummeted, and the industry has been working hard to recover from the downturn.
