Paradigm

Paradigm is a San Francisco-based cryptocurrency and decentralised finance venture capital firm founded in 2018 by Matt Huang, a former Sequoia Capital partner, and Fred Ehrsam, co-founder of Coinbase, managing more than $2.5 billion across its fund vehicles and focused exclusively on cryptocurrency, blockchain, and Web3 companies and protocols. Portfolio companies include Coinbase, the cryptocurrency exchange that completed a Nasdaq direct listing in 2021; Uniswap, the leading decentralized exchange protocol; Optimism, the Ethereum Layer 2 scaling solution; and Cosmos, the interoperability blockchain project. Note: FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, was a Paradigm portfolio company. Paradigm invested $190 million in FTX's Series B in 2021. FTX filed for bankruptcy in November 2022 following the discovery of massive customer fund misappropriation; Sam Bankman-Fried was convicted of fraud in 2023. Paradigm wrote off its entire FTX investment and publicly criticized FTX's management following the collapse. Beyond its original investments, the portfolio includes Blur, Magic Eden, and additional Web3 projects.