Paradigm Fund III | 2018 VC Fund

Paradigm

cb Email

Status

ACTIVE

Global HQ

San Francisco, United States

Countries of investment

United States
United Kingdom
Canada
Singapore
Switzerland
Germany
France
Israel

Investment stages

Seed
Series A
Series B
Growth

Industries

Crypto
Web3
DeFi
Layer 1 Protocols
Layer 2 Protocols
MEV
Zero-Knowledge Proofs
Stablecoins
Infrastructure
AI x Crypto

About
Paradigm is a San Francisco-based VC focused on crypto and Web3 protocols. Their focus spans DeFi, Layer 1 and 2 protocols, MEV, zero-knowledge proofs, stablecoins, and infrastructure across the United States, United Kingdom, Canada, Singapore, Switzerland, Germany, France, and Israel. The firm supports crypto-native founders from Seed through Growth.

Min check size: $1M
Max check size: $50M
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Investment Thesis

Paradigm is a multi-stage venture capital firm deploying capital across crypto, Web3, DeFi, Layer 1 and 2 protocols, MEV, zero-knowledge proofs, stablecoins, and crypto infrastructure sectors. They invest in research-driven crypto-native founders building the foundational protocols and infrastructure of the decentralized economy with hands-on technical support. The firm differentiates itself through its founders Matt Huang (ex-Sequoia) and Fred Ehrsam (Coinbase Co-Founder), $2.5B inaugural fund and $850M Fund III, in-house research team producing groundbreaking work on MEV and protocol design, and reputation as the most respected research-driven crypto VC globally.

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Manager's Experience

Matt Huang (Co-Founder & Managing Partner) co-founded Paradigm in 2018 after serving as Partner at Sequoia Capital where he led the firm's crypto investments and previously co-founded Hotspots (acquired by Twitter); he holds a degree in Mathematics from MIT. Fred Ehrsam (Co-Founder & Managing Partner) co-founded Coinbase in 2012 (one of the world's largest crypto exchanges, NASDAQ:COIN), bringing unparalleled crypto industry credibility and operating expertise. The firm has built a $2.5B+ AUM platform with $850M Fund III (2024), backed by Yale, Stanford, Princeton, and other top endowments; the in-house research team has produced industry-defining work on MEV, protocol design, and AMM mechanism design.