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Paradigm is a research-driven crypto and web3 investment firm founded in 2018 by Matt Huang, a former partner at Sequoia, and Fred Ehrsam, co-founder of Coinbase. Based in San Francisco, the firm manages $12.7 billion in assets under management (AUM) and operates as a hybrid model that combines a research lab, engineering organization, and venture fund. Paradigm collaborates with builders from the earliest stages of their projects, often when concepts are still in development.
The firm has a notable track record, with its first fund growing from $760 million to $8.3 billion, returning over $1 billion to its limited partners (LPs). Paradigm's LP base includes prestigious endowments from Harvard, Yale, and Stanford. The firm is currently focused on its third fund, which has $850 million allocated for early-stage crypto projects.
Paradigm exclusively invests in the crypto and web3 sectors, with a unique strategy that emphasizes a research-first approach. The firm allocates approximately 60% of its investments to tokens and 40% to startup equity. Their investment stages range from pre-seed to growth equity, with typical check sizes between $5 million and $100 million, often targeting around $20 million for optimal investments.
The firm is particularly interested in the earliest stages of crypto projects, believing that the future of finance will be shaped by builder-investors who actively create and open-source new mechanisms. Paradigm's current focus is on Fund III, which is dedicated to supporting innovative projects in the crypto space.
Paradigm has made significant investments in several notable companies within the crypto and web3 sectors. Their portfolio includes:
Additionally, Paradigm has built critical infrastructure for the crypto ecosystem, including Reth (an Ethereum execution client that is 80% smaller and 10x faster than its predecessors), Foundry (a developer toolbox), and Artemis (a crypto bot). These tools are utilized by major platforms such as Coinbase Base and WorldCoin.
Matt Huang: Co-Founder & Managing Partner. Former partner at Sequoia, he has a background in technology investments and is currently the CEO of Stripe's Tempo blockchain.
Fred Ehrsam: Co-Founder & General Partner. He co-founded Coinbase and has extensive experience in the crypto sector.
Alana Palmedo: Managing Partner with a focus on investment strategy and portfolio management.
Dan Robinson: General Partner known for his expertise in crypto mechanisms and infrastructure.
Georgios Konstantopoulos: General Partner & CTO, specializing in technical development and research.
Frankie: General Partner with a focus on investment and research.
Alpin Yukseloglu: Partner, Investing & Research, contributing to investment analysis and strategy.
Arjun Balaji: Partner, Investing & Research, involved in evaluating potential investments.
Caitlin Pintavorn: Partner, Investing & Research, focusing on portfolio management.
Dave White: Research Partner, contributing to the firm's research initiatives.
Ricardo de Arruda: Partner, Investing & Research, involved in investment strategy.
Storm Slivkoff: Research Partner, focusing on technical research.
Katie Biber: Chief Legal Officer and Partner, overseeing legal matters.
Justin Slaughter: VP of Regulatory Affairs, managing regulatory compliance and strategy.
To pitch Paradigm, startups should use the contact form available at paradigm.xyz/contact. It is recommended to include a comprehensive deck that outlines the project, its potential impact, and the team behind it. Response times may vary, so founders should be prepared for a range of timelines.
The Paradigm Fellowship is an initiative designed for students, recent graduates, and dropouts interested in the crypto space. The 2025 program runs from September 24th to 26th, with applications open until July 25th. The fellowship includes a retreat, mentorship, and community-building activities aimed at fostering talent in the crypto ecosystem.
In November 2024, Paradigm closed Fund III with $850 million dedicated to early-stage crypto projects. In August 2025, Matt Huang was named CEO of Stripe's Tempo blockchain, further bridging the gap between traditional finance and crypto. Fred Ehrsam stepped down as managing partner in October 2023, marking a significant leadership change within the firm. Paradigm continues to actively deploy Fund III into promising early-stage crypto ventures.
Q?
What are Paradigm's investment criteria?
Paradigm focuses on early-stage crypto and web3 projects, investing in both tokens and startup equity. They typically invest between $5 million and $100 million, with a preference for checks around $20 million.
Q?
How can startups apply or pitch to Paradigm?
Startups can pitch to Paradigm through their contact page at paradigm.xyz/contact. It is advisable to include detailed information about the project and its potential impact on the crypto ecosystem.
Q?
What makes Paradigm different from other investors?
Paradigm combines a research lab, engineering organization, and venture fund, allowing them to actively build and open-source crypto infrastructure while investing. This hybrid model enables them to provide deeply technical support to portfolio companies.
Q?
What is Paradigm's geographic scope?
Paradigm invests globally, with a focus on North America, Europe, and Asia, reflecting the borderless nature of crypto.
Q?
What is Paradigm's post-investment involvement like?
Paradigm provides technical partnership and resources through its research lab and engineering organization, helping portfolio companies leverage their infrastructure projects.
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