Paradigm Operations LP

Paradigm Operations LP is a research-driven venture capital firm specializing in early-stage investments in cryptocurrency and blockchain technology companies. Founded in 2018 by Fred Ehrsam, co-founder of Coinbase, and Matt Huang, former partner at Sequoia Capital, Paradigm focuses on supporting innovative crypto/Web3 companies and protocols from their earliest stages. The firm employs a flexible, long-term, multi-stage, and global investment approach, often engaging with projects at inception and providing ongoing support as they evolve.

Paradigm's investment strategy is hands-on, involving technical aspects such as mechanism design, smart contract security, and engineering, as well as operational areas like recruiting and regulatory strategy. The firm's portfolio includes notable investments in companies like Uniswap, FTX, BlockFi, Maker, and Sky Mavis. In June 2024, Paradigm raised $850 million for its third fund, dedicated to early-stage crypto projects, underscoring its commitment to advancing the cryptocurrency industry. Additionally, Paradigm launched the Policy Lab in September 2023, a platform aimed at producing research and advocacy on critical policy issues affecting the crypto ecosystem.

In May 2023, Paradigm's official website underwent a revision, re-adding statements related to cryptocurrency, indicating a reaffirmation of its focus on the crypto sector. This move came after a brief period where the firm had removed cryptocurrency-related content from its homepage, signaling a potential shift towards artificial intelligence. The reintroduction of crypto-related statements reflects Paradigm's commitment to its original mission of supporting the cryptocurrency and blockchain sectors. The firm's proactive approach to policy advocacy, as demonstrated by its amicus curiae brief in September 2023, highlights its dedication to shaping the regulatory landscape for digital assets.