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A $1.2 billion capital raise brings Paradigm's Fund III to market, the third vehicle from the crypto venture firm since it was founded in 2018.
Paradigm launched with a mandate to back cryptocurrency startups, and the new fund carries a stated focus on what the firm calls "technical frontier" companies. The number in focus $1.2 billion is the print.
Paradigm has operated as a crypto-focused venture firm since 2018. Fund III is its third institutional vehicle. The "technical frontier" label is Paradigm's own characterization of the companies the fund intends to back.
The source does not disclose a deployment timeline, named limited partners, or a sector breakdown within the fund's mandate. Reading the setup Paradigm is a private firm.
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