Difference between revisions of "Paradigm"

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== Projects ==
== Projects ==
* [[Citadel]] was [https://www.stakingrewards.com/journal/state-of-stake-30 created] by Paradigm (3-9-2020). However that working relation [https://t.me/Paradigm_Fund/1078 stopped] (18-9-2020).  
* [[Citadel]] was [https://www.stakingrewards.com/journal/state-of-stake-30 created] by Paradigm (3-9-2020). However that working relation [https://t.me/Paradigm_Fund/1078 stopped] (18-9-2020).  
* Paradigm [https://medium.com/paradigm-fund/establishment-of-amm-division-with-orbs-as-a-first-community-founders-letter-7a6d73fe6c7 launched] an [[AMM]] division that will provide community engaging services to [[Orbs (ORBS)|Orbs]] (14-10-2020).  
* Ithaca; a spinoff building [[Odyssey]]
*Paradigm [https://medium.com/paradigm-fund/establishment-of-amm-division-with-orbs-as-a-first-community-founders-letter-7a6d73fe6c7 launched] an [[AMM]] division that will provide community engaging services to [[Orbs (ORBS)|Orbs]] (14-10-2020).  
* [[Humanode]] was [https://medium.com/paradigm-fund/humanode-in-house-project-announcement-acc182726429 announced] (4-12-2020):  
* [[Humanode]] was [https://medium.com/paradigm-fund/humanode-in-house-project-announcement-acc182726429 announced] (4-12-2020):  
''"[https://humanode.io/ Humanode] is a [[decentralized]] network based on private biometrically encrypted [[nodes]] (or replicas). Using solutions that provide fully homomorphically encrypted feature vectors for biometric processing and a Merkle-CRDT mechanism, people will be able to deploy replicas to create a [[Public Blockchains|public]] [[permissionless]] financial network based on [[consensus]] between equal human nodes with a rule-based monetary policy targeting real value growth and proportional emission."''
''"[https://humanode.io/ Humanode] is a [[decentralized]] network based on private biometrically encrypted [[nodes]] (or replicas). Using solutions that provide fully homomorphically encrypted feature vectors for biometric processing and a Merkle-CRDT mechanism, people will be able to deploy replicas to create a [[Public Blockchains|public]] [[permissionless]] financial network based on [[consensus]] between equal human nodes with a rule-based monetary policy targeting real value growth and proportional emission."''
* [[Tagomi]]' a crypto-focused trading desk. Is [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 mentioned] as 'one of their own startups' which they also used when they bought BTC and ETH with their first $400M (18-10-2020). Is part of the [[Diem]] Association. Got [https://blog.coinbase.com/coinbase-to-acquire-leading-institutional-crypto-brokerage-tagomi-50558d41eef2 acquired] (27-5-2020) by [[Coinbase (Company)|Coinbase]] for [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 more than $75 million].
* [[Tagomi]]' a crypto-focused trading desk. Is [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 mentioned] as 'one of their own startups' which they also used when they bought BTC and ETH with their first $400M (18-10-2020). Is part of the [[Diem]] Association. Got [https://blog.coinbase.com/coinbase-to-acquire-leading-institutional-crypto-brokerage-tagomi-50558d41eef2 acquired] (27-5-2020) by [[Coinbase (Company)|Coinbase]] for [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 more than $75 million].
== Controversy ==
* [[Ric Burton]] came out with [https://twitter.com/ricburton/status/1620969794177765378 allegations] of [[Hayden Adams|Hayden]] ghosting him after years of work and investment in Hayden and introducing him to Paradigm (2-2023). Insinuating that Paradigm took all the spoils. Hayden countered, [https://twitter.com/haydenzadams/status/1622738843207098368 saying] Ric is lying ''"That claim has already been dismissed by a judge - and is a matter of public record. Ric’s claim that it was his idea for me to raise from Paradigm is also false. I met @danrobinson at @phildaian’s apartment before I ever crossed paths with Ric. We became friends and Dan intro’d me to Paradigm when he joined."''


== Investments ==
== Investments ==
* [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 From] [[Forbes]] (18-10-2020):
* According to this [https://twitter.com/ThorHartvigsen/status/1626204769189605377 thread] (16-2-2023):
''"Total Balance $382m • $195m $[[Lido (LDO)|LDO]] • $166.5m $ETH • $20.47m $[[Maker DAO|MKR]] This is likely just a few of their larger holdings. Some of their investments include [[Optimism (OP)|Optimism]], [[Synthetix Network Tokens (SNX)|Synthetix]], [[DYDX]], [[Osmosis (OSMO)|Osmosis]], [[Uniswap (UNI)|Uniswap]], [[StarkWare (StarkNet - STARK)|Starkware]] and more. Interestingly, Paradigm is one of the largest investors in Lido Finance. As of now, 79m of their 100m LDO tokens have been unlocked (fully unlocked May 1st 2023). Paradigm further has > $2m $MKR staked for governance on MakerDAO."''
*[https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 From] [[Forbes]] (18-10-2020):
"''All told, 13 of Paradigm’s 28 investments so far have already raised or circulated [[tokens]] at higher valuations. That’s helped the firm establish itself as an elite player."''
"''All told, 13 of Paradigm’s 28 investments so far have already raised or circulated [[tokens]] at higher valuations. That’s helped the firm establish itself as an elite player."''
* Argent. [https://medium.com/argenthq/our-next-chapter-announcing-our-12m-series-a-d1a7af23d668 Led] (9-3-2020) a $12M Series A round for [[Argent]].
* Argent. [https://medium.com/argenthq/our-next-chapter-announcing-our-12m-series-a-d1a7af23d668 Led] (9-3-2020) a $12M Series A round for [[Argent]].
*[[Axie Infinity (AXS)|Axie Infinity]]; was part of their [https://decrypt.co/82656/axie-infinity-creator-raises-152-million-andreessen-series-b?utm_source=telegram&utm_medium=social&utm_campaign=smt $152m Series B] round (5-10-2021).
*[[Axie Infinity (AXS)|Axie Infinity]]; was part of their [https://decrypt.co/82656/axie-infinity-creator-raises-152-million-andreessen-series-b?utm_source=telegram&utm_medium=social&utm_campaign=smt $152m Series B] round (5-10-2021).
*[[AZTEC Protocol|Aztec]]; led its [https://decrypt.co/88450/ethereum-privacy-provider-aztec-raises-17m-adds-bridges-developers?utm_source=telegram&utm_medium=social&utm_campaign=smt $17m raise] (16-12-2021).
*[[AZTEC Protocol|Aztec]]; led its [https://decrypt.co/88450/ethereum-privacy-provider-aztec-raises-17m-adds-bridges-developers?utm_source=telegram&utm_medium=social&utm_campaign=smt $17m raise] (16-12-2021).
*[[Babylon]]; led their [https://x.com/babylon_chain/status/1796171723471258091 $70M pre-launch] round (30-5-2024).
*[[Blast (BLAST)|Blast]]; part of the $20M funding round (22-11-2023).
*[[Blur]]; led the [https://mirror.xyz/blurdao.eth/4V0dY_-ob5rBxl664deMASnH2wRsgcrGS20lpdurBa0 $11M seed round] (26-3-2022). Also in Blast.
*[[Chainalysis]]; part of their [https://www.coindesk.com/chainalysis-raises-100m-underscoring-surging-demand-for-blockchain-surveillance Series D $100M raise] (27-6-2021).
*[[Chainalysis]]; part of their [https://www.coindesk.com/chainalysis-raises-100m-underscoring-surging-demand-for-blockchain-surveillance Series D $100M raise] (27-6-2021).
*[[Compound]], [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 before] it had a [[token]] (18-10-2020).
*[[Compound]], [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 before] it had a [[token]] (18-10-2020).
*[[dYdX]]; was part of the [[Dydx|dYdX]] [https://www.theblockcrypto.com/post/105881/defi-exchange-dydx-65-million-raise-paradigm Series C raise of $64M] (15-6-2021).
*[[dYdX]]; was part of the [[Dydx|dYdX]] [https://www.theblockcrypto.com/post/105881/defi-exchange-dydx-65-million-raise-paradigm Series C raise of $64M] (15-6-2021).
*[[Euler]]; part of the [https://blog.euler.finance/series-a-led-by-paradigm-62004afe3bf6 $8m raise] (25-8-2021).
*[[Euler]]; part of the [https://blog.euler.finance/series-a-led-by-paradigm-62004afe3bf6 $8m raise] (25-8-2021).
*[[Farcaster]]; led the [https://decrypt.co/231644/ethereum-based-twitter-rival-farcaster-raises-150-million $150M Series A] (22-5-2024).
*[[Fireblocks]], Was part of a [https://decrypt.co/61864/fireblocks-a-hot-investment-with-133-million-series-c Series C] funding raise of $133M (18-3-2021).
*[[Fireblocks]], Was part of a [https://decrypt.co/61864/fireblocks-a-hot-investment-with-133-million-series-c Series C] funding raise of $133M (18-3-2021).
*[[FTX (FTT)|FTX]]; after the crash of FTX co-founder Matt [https://twitter.com/matthuang/status/1592595246533160961 announced] (16-11-2022): ''"Paradigm’s equity investment in FTX constituted a small part of our total assets and has now been written down to $0. We never traded on FTX and did not have any assets on the exchange. We have never been investors in related tokens such as FTT, [[Serum (SRM)|SRM]], [[Maps.me (MAPS)|MAPS]], or OXY."'' But later it was [https://www.mollywhite.net/etc/ftx-contagion revealed] that it had invested $290m into FTX (10-12-2022).
*Gauntlet. Is an investor in [[Gauntlet]], according to their [https://gauntlet.network/about/ website] (19-10-2020).
*Gauntlet. Is an investor in [[Gauntlet]], according to their [https://gauntlet.network/about/ website] (19-10-2020).
*[[Gitcoin]]; was part of a [https://gitcoin.co/blog/gitcoin-grows-treasury-to-accelerate-open-source/ $11.4M] raise for them (14-4-2021).
*[[Gitcoin]]; was part of a [https://gitcoin.co/blog/gitcoin-grows-treasury-to-accelerate-open-source/ $11.4M] raise for them (14-4-2021).
*[[Keep Network]]. Is [https://keep.network/#advisors mentioned] as a staker on the network (12-11-2020).
*[[Keep Network]]. Is [https://keep.network/#advisors mentioned] as a staker on the network (12-11-2020).
*[[Lido]]; led a [https://twitter.com/TheBlock__/status/1389964156200230916 $75M] raise (5-5-2021).
*[[Lido]]; led a [https://twitter.com/TheBlock__/status/1389964156200230916 $75M] raise (5-5-2021). Paradigm has exactly [https://watchers.pro/whaleWatch/0x5a98fcbea516cf06857215779fd812ca3bef1b32?network=eth 7% of the token supply].
*[[Maker]], from [https://www.coindesk.com/dragonfly-capital-paradigm-buy-27-5m-stake-in-governing-makerdaos-future this] [[CoinDesk]] article (19-12-2019):
*[[Maker]], from [https://www.coindesk.com/dragonfly-capital-paradigm-buy-27-5m-stake-in-governing-makerdaos-future this] [[CoinDesk]] article (19-12-2019):
''"Venture funds [[Dragonfly Capital]] and Paradigm have acquired $27.5 million worth of MKR tokens and plan to take part in the Maker Protocol's [[On-Chain Governance|governance]] system. Announced Thursday by the [[Maker Foundation]], the $27.5 million raised will fund the [[foundation]]'s efforts to promote [[dai]] adoption in China and the broader Asia region. It's expected [[Dragonfly]] and Paradigm, who already have a strong presence in the region, will advise on the expansion.The joint purchase means Dragonfly and Paradigm now control approximately 5.5 percent of the total MKR token supply. Combined, the acquisition makes Dragonfly and Paradigm the second-largest private holder of MKR tokens. VC firm [[Andreessen Horowitz]] remains the single largest private holder with the 6 percent [[stake]] it acquired in September 2018."''
''"Venture funds [[Dragonfly Capital]] and Paradigm have acquired $27.5 million worth of MKR tokens and plan to take part in the Maker Protocol's [[On-Chain Governance|governance]] system. Announced Thursday by the [[Maker Foundation]], the $27.5 million raised will fund the [[foundation]]'s efforts to promote [[dai]] adoption in China and the broader Asia region. It's expected [[Dragonfly]] and Paradigm, who already have a strong presence in the region, will advise on the expansion.The joint purchase means Dragonfly and Paradigm now control approximately 5.5 percent of the total MKR token supply. Combined, the acquisition makes Dragonfly and Paradigm the second-largest private holder of MKR tokens. VC firm [[Andreessen Horowitz]] remains the single largest private holder with the 6 percent [[stake]] it acquired in September 2018."''
* After [[Black Thursday]] (13-3-2020) they; ''"[https://twitter.com/paradigm/status/1238329819382681602 plan on participating] in the upcoming @MakerDAO backstop auction up to the total current shortfall (~5M DAI), which would add to our existing MKR position." ''Update: Paradigm [https://twitter.com/paradigm/status/1244767413104590849 said] (31-3-2020) that it won 72 of the 106 auctions and paid a total of 3.6 million DAI for these [[governance]] tokens. 
* After [[Black Thursday]] (13-3-2020) they; ''"[https://twitter.com/paradigm/status/1238329819382681602 plan on participating] in the upcoming @MakerDAO backstop auction up to the total current shortfall (~5M DAI), which would add to our existing MKR position." ''Update: Paradigm [https://twitter.com/paradigm/status/1244767413104590849 said] (31-3-2020) that it won 72 of the 106 auctions and paid a total of 3.6 million DAI for these [[governance]] tokens. 
* Mina. Helped [https://www.coindesk.com/o1-labs-mina-protocol-funding-round-three-arrows raise] $15M for [[Mina]] (21-10-2020). 
* Mina. Helped [https://www.coindesk.com/o1-labs-mina-protocol-funding-round-three-arrows raise] $15M for [[Mina]] (21-10-2020). 
 
*[[Monad]]: part of the [https://twitter.com/monad_xyz/status/1777687376136982767 $225M] raise (9-4-2024).
* [[Optimism]]; which [https://medium.com/ethereum-optimism/optimism-cd9bea61a3ee raised] 3.5 million dollars from Paradigm and [[IDEO CoLab Ventures]]. Led the [https://twitter.com/optimismpbc/status/1504487737201598470?s=21 $150M] raise on 17-3-2022.
*[[Optimism]]; which [https://medium.com/ethereum-optimism/optimism-cd9bea61a3ee raised] 3.5 million dollars from Paradigm and [[IDEO CoLab Ventures]]. Led the [https://twitter.com/optimismpbc/status/1504487737201598470?s=21 $150M] raise on 17-3-2022.
*[[Odyssey]]; gave this spinoff $20M.
*[[Opyn]]; led a [https://cryptobriefing.com/defi-options-protocol-opyn-raises-6-7-million-in-funding/ $6.5M raise] (4-2-2021).
*[[Opyn]]; led a [https://cryptobriefing.com/defi-options-protocol-opyn-raises-6-7-million-in-funding/ $6.5M raise] (4-2-2021).
*[[Osmosis (OSMO)|Osmosis]]; led a [https://thedefiant.io/osmosis-soars-80-cosmos/ $21m] raise (10-2021).
*[[Osmosis (OSMO)|Osmosis]]; led a [https://thedefiant.io/osmosis-soars-80-cosmos/ $21m] raise (10-2021).
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*[[StarkWare]]; part of a [https://www.theblockcrypto.com/post/99211/starkware-funding-round-ethereum-paradigm $75M] raise (24-3-2021). Took part in the [https://www.theblockcrypto.com/post/124479/ethereum-layer-2-developer-starkware-raises-50-million-now-valued-at-2-billion?utm_source=twitter&utm_medium=social Series C] raise of $50m (17-11-2021).
*[[StarkWare]]; part of a [https://www.theblockcrypto.com/post/99211/starkware-funding-round-ethereum-paradigm $75M] raise (24-3-2021). Took part in the [https://www.theblockcrypto.com/post/124479/ethereum-layer-2-developer-starkware-raises-50-million-now-valued-at-2-billion?utm_source=twitter&utm_medium=social Series C] raise of $50m (17-11-2021).
*[[Synthetix Network Tokens (SNX)|Synthetix]]; was one of the three VCs which [https://cointelegraph.com/news/synthetix-announces-12-million-raise-led-by-paradigm-coinbase-ventures-and-iosg bought] SNX from the [[DAO]] ($12M in total) and has also [https://defiprime.substack.com/p/the-defiprime-post-29-your-weekly?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozMjU2OTcyMiwiXyI6InFmb2Z2IiwiaWF0IjoxNjEzNjMwNDg1LCJleHAiOjE2MTM2MzQwODUsImlzcyI6InB1Yi05MDAwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.BWDFvX2etS0WEZ2JZ joined] their Spartan Board (12-2-2021).
*[[Synthetix Network Tokens (SNX)|Synthetix]]; was one of the three VCs which [https://cointelegraph.com/news/synthetix-announces-12-million-raise-led-by-paradigm-coinbase-ventures-and-iosg bought] SNX from the [[DAO]] ($12M in total) and has also [https://defiprime.substack.com/p/the-defiprime-post-29-your-weekly?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozMjU2OTcyMiwiXyI6InFmb2Z2IiwiaWF0IjoxNjEzNjMwNDg1LCJleHAiOjE2MTM2MzQwODUsImlzcyI6InB1Yi05MDAwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.BWDFvX2etS0WEZ2JZ joined] their Spartan Board (12-2-2021).
*[[Tessera]]; led their [https://medium.com/@tessera-nft/announcing-tessera-6cc66d92a6a6 $20m] raise (18-8-2022).
*Uniswap. Led a [https://finance.yahoo.com/news/paradigm-backs-decentralized-exchange-protocol-184824051.html seed round] in April 2020 for [[Uniswap]]. And another one, when it was [https://cryptobriefing.com/uniswap-raises-11-million-top-vcs-token-imminent/ part] of a $11M fund raise (7-8-2020). 
*Uniswap. Led a [https://finance.yahoo.com/news/paradigm-backs-decentralized-exchange-protocol-184824051.html seed round] in April 2020 for [[Uniswap]]. And another one, when it was [https://cryptobriefing.com/uniswap-raises-11-million-top-vcs-token-imminent/ part] of a $11M fund raise (7-8-2020). 


== Team, Funding, partnerships ==
== Team, Funding, partnerships ==
=== Team ===
*The fund was started by [[Coinbase (Company)|Coinbase]] Inc. co-founder [[Fred Ehrsam]], former [[Sequoia Capital]] partner [[Matt Huang]], and [[Charles Noyes]], an ex-employee of crypto fund [[Pantera Capital]].
*The fund was started by [[Coinbase (Company)|Coinbase]] Inc. co-founder [[Fred Ehrsam]], former [[Sequoia Capital]] partner [[Matt Huang]], and [[Charles Noyes]], an ex-employee of crypto fund [[Pantera Capital]].
*[https://www.dlnews.com/articles/fintech/venture-capitalist-paradigm-completes-its-third-crypto-fund/?utm_campaign= From] DeFi Llama news (15-6-2024):
''"In 2021, Paradigm said it had $13.2 billion in assets under management, and in 2022 it said it employed 73 staff members. Now, it has only 59 employees."''
*[https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 From] [[Forbes]] (18-10-2020):
*[https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 From] [[Forbes]] (18-10-2020):
"''Paradigm’s been busy, too, hiring a second researcher, a general counsel and, in October, a crypto security expert, bringing its team to 15."''
"''Paradigm’s been busy, too, hiring a second researcher, a general counsel and, in October, a crypto security expert, bringing its team to 15."''
*[[Georgios Konstantopoulos]]
*[[Georgios Konstantopoulos]]; CTO, and also [https://www.theblock.co/post/320714/paradigm-invests-20-million-in-ithaca-a-spinoff-building-layer-2-blockchain-from-the-future became] CEO of Paradigm's spinoff Ithaca to build the Odyssey [[Layer Two|L2]].
*[[Dan Robinson]]
*[[Dan Robinson]]
*[[Arjun Balaji]]; investor at Paradigm
*[[Arjun Balaji]]; investor at Paradigm
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=== Funding ===
=== Funding ===
* Sequoia [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 invested] in the firm (18-10-2020).
* [https://decrypt.co/235323/paradigm-raises-850-million-invest-early-stage-crypto Raised] another $850M (14-6-2024)
*Had investment from bankrupt [[FTX (FTT)|Alameda Research]]/FTX, which [https://twitter.com/Edvis100/status/1591106606716313600 came out] (11-11-2022) during the FTX crash. This could mean fall-out risk. Sequoia for instance took a big hit. The [https://docs.google.com/spreadsheets/d/1xoYqw-5EjQIiunX75UzozzMPOspm0KwFzgA-SKBcvyo/edit#gid=0 investment] turned out to be $20M within their Feeder LP, another ~$5M in their Feeder LP (8-12-2022) and another $9.25M worth of equity.
*[[Sequoia Capital|Sequoia]] [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 invested] in the firm (18-10-2020).
* [[Yale|Yale University]] [https://www.bloomberg.com/news/articles/2018-10-05/yale-is-said-to-invest-in-crypto-fund-that-raised-400-million helped raise] $400 million.
* [[Yale|Yale University]] [https://www.bloomberg.com/news/articles/2018-10-05/yale-is-said-to-invest-in-crypto-fund-that-raised-400-million helped raise] $400 million.
* [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 From] [[Forbes]] (18-10-2020):
* [https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/?sh=197146934212 From] [[Forbes]] (18-10-2020):
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''Combining mainstream pedigrees and pioneering crypto cred, Ehrsam, 32 and Huang, 31, convinced top institutional investors like [[Harvard]] and [[Stanford University|Stanford]] to give them $750 million to invest in a market they were too blue-blooded to touch directly. The vehicle was odd, an open-ended fund with no deadline to return it back. (All three [including [[Yale]]] declined to comment for this story.)"''[[Category:Companies/Organisations]]
''Combining mainstream pedigrees and pioneering crypto cred, Ehrsam, 32 and Huang, 31, convinced top institutional investors like [[Harvard]] and [[Stanford University|Stanford]] to give them $750 million to invest in a market they were too blue-blooded to touch directly. The vehicle was odd, an open-ended fund with no deadline to return it back. (All three [including [[Yale]]] declined to comment for this story.)"''[[Category:Companies/Organisations]]
[[Category:Investment Fund]]
[[Category:Fund]]

Latest revision as of 03:48, 16 October 2024

Basics

  • A fund focused on digital assets.
  • Launched in 2018.

Projects

"Humanode is a decentralized network based on private biometrically encrypted nodes (or replicas). Using solutions that provide fully homomorphically encrypted feature vectors for biometric processing and a Merkle-CRDT mechanism, people will be able to deploy replicas to create a public permissionless financial network based on consensus between equal human nodes with a rule-based monetary policy targeting real value growth and proportional emission."

Controversy

  • Ric Burton came out with allegations of Hayden ghosting him after years of work and investment in Hayden and introducing him to Paradigm (2-2023). Insinuating that Paradigm took all the spoils. Hayden countered, saying Ric is lying "That claim has already been dismissed by a judge - and is a matter of public record. Ric’s claim that it was his idea for me to raise from Paradigm is also false. I met @danrobinson at @phildaian’s apartment before I ever crossed paths with Ric. We became friends and Dan intro’d me to Paradigm when he joined."

Investments

  • According to this thread (16-2-2023):

"Total Balance $382m • $195m $LDO • $166.5m $ETH • $20.47m $MKR This is likely just a few of their larger holdings. Some of their investments include Optimism, Synthetix, DYDX, Osmosis, Uniswap, Starkware and more. Interestingly, Paradigm is one of the largest investors in Lido Finance. As of now, 79m of their 100m LDO tokens have been unlocked (fully unlocked May 1st 2023). Paradigm further has > $2m $MKR staked for governance on MakerDAO."

"All told, 13 of Paradigm’s 28 investments so far have already raised or circulated tokens at higher valuations. That’s helped the firm establish itself as an elite player."

"Venture funds Dragonfly Capital and Paradigm have acquired $27.5 million worth of MKR tokens and plan to take part in the Maker Protocol's governance system. Announced Thursday by the Maker Foundation, the $27.5 million raised will fund the foundation's efforts to promote dai adoption in China and the broader Asia region. It's expected Dragonfly and Paradigm, who already have a strong presence in the region, will advise on the expansion.The joint purchase means Dragonfly and Paradigm now control approximately 5.5 percent of the total MKR token supply. Combined, the acquisition makes Dragonfly and Paradigm the second-largest private holder of MKR tokens. VC firm Andreessen Horowitz remains the single largest private holder with the 6 percent stake it acquired in September 2018."

Team, Funding, partnerships

Team

"In 2021, Paradigm said it had $13.2 billion in assets under management, and in 2022 it said it employed 73 staff members. Now, it has only 59 employees."

"Paradigm’s been busy, too, hiring a second researcher, a general counsel and, in October, a crypto security expert, bringing its team to 15."

Funding

"Paradigm moved its $400 million of initial capital into Bitcoin and Ethereum in 2018 at burst-bubble discount prices, converting it back into greenbacks when needed for individual investments.

Combining mainstream pedigrees and pioneering crypto cred, Ehrsam, 32 and Huang, 31, convinced top institutional investors like Harvard and Stanford to give them $750 million to invest in a market they were too blue-blooded to touch directly. The vehicle was odd, an open-ended fund with no deadline to return it back. (All three [including Yale] declined to comment for this story.)"