# Paradigm: portfolio, investments and team

> Paradigm is a vc firm based in United States. 176 investments on record, 35 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/paradigm (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Paradigm

Last cheque observed Sep 2026; 176 cheques on record.

Email

Deploying now New fund $3.5M, Sept 2026 VC firm

Seed Series A Series B Nft Non-fungible Decentralized Finance

Follow Paradigm and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fparadigm)

Deploying now

**81%** of best year **35** **cheques in 12 months**, 176 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$13M** Cheque size, as they say **$25K – $100M** Rounds led **9 of 176** Sole investor **27 rounds** Mostly in **United States, 74%**

Pitch Paradigm

## Paradigm highlights

- 01 35 cheques in the last 12 months
- 02 Mostly Venture and Seed: 62% of its rounds
- 03 Sole investor in 27 rounds, median $7.3M

## What they do

> Paradigm is a frontier technology investment firm that builds and invests in crypto, AI, robotics, and across new frontiers from the earliest stages. From their own website

- **Type:** VC firm
- **Cheque size:** $25K – $100M as they say
- **Stages:** Seed Series A Series B Growth
- **Sectors:** Nft Non-fungible Decentralized Finance
- **Based in:** San Francisco, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **176 appearances**

- **2026** 27 rounds
- **Sept** **[Fab2](https://millionrounds.com/company/fab2)** Series A · US **$500M** With 2 others
- **Aug** **[Antares](https://millionrounds.com/company/antares)** Series C · US · TechCrunch **$470M** *Led*
- **Aug** **[idler](https://millionrounds.com/company/idler)** Seed · US **$9.0M** Sole investor
- **Jul** **[Gauntlet](https://millionrounds.com/company/gauntlet)** Series C · US · AlleyWatch **$125M** With 6 others
- **Jul** **[EDX Markets](https://millionrounds.com/company/edx-markets)** Series C · US · TechStartups **$76M** With 3 others
- **Jul** **[Kalshi](https://millionrounds.com/company/kalshi)** Venture · US **$30M** With 4 others
- **Jul** **[Revolut](https://millionrounds.com/company/revolut)** Venture · GB **Undisclosed** With 4 others
- **Jun** **[El Dorado](https://millionrounds.com/company/el-dorado)** Series A · CO · LatamList **$9.0M** *Led*
- **Jun** **[Morpho](https://millionrounds.com/company/morpho)** Seed · FR · Ventureburn **$175M** *Led*
- **Jun** **[Avicanna](https://millionrounds.com/company/avicanna)** CA **$429K** With 1 other
- **May** **[SignalPlus](https://millionrounds.com/company/signalplus)** Series B · HK · Ventureburn **$40M** With 3 others
- **May** **[Newcore Gold](https://millionrounds.com/company/newcore-gold)** CA **$11M** Sole investor
- **May** **[True Anomaly](https://millionrounds.com/company/true-anomaly)** Series D · US · Crunchbase News **$600M** With 8 others
- **May** **[TriStar Gold](https://millionrounds.com/company/tristar-gold)** US **$7.5M** Sole investor
- **May** **[SendCutSend](https://millionrounds.com/company/sendcutsend)** Venture · US **$110M** With 1 other
- **Apr** **[Liquid](https://millionrounds.com/company/liquid)** Seed · BR **$18M** With 4 others
- **Mar** **[Kalshi](https://millionrounds.com/company/kalshi)** Series F · US · TechCrunch **$1.0B** With 6 others
- **Mar** **[Zodl](https://millionrounds.com/company/zodl)** Seed · Ventureburn **$25M** With 7 others
- **Mar** **[Zcash Open Development Lab](https://millionrounds.com/company/zcash-open-development-lab)** Seed · US **$25M** With 4 others
- **Feb** **[Kalshi](https://millionrounds.com/company/kalshi)** Venture · US **Undisclosed** With 4 others
- **Feb** **[Uniswap Labs](https://millionrounds.com/company/uniswap-labs)** Venture · US **Undisclosed** With 5 others
- **Feb** **[Sorella Labs](https://millionrounds.com/company/sorella-labs)** Venture · US **$5.2M** With 2 others
- **Jan** **[FLORA](https://millionrounds.com/company/flora)** Series A · US · TechCrunch **$42M** With 23 others
- **Jan** **[Mesh](https://millionrounds.com/company/mesh)** Series C · US · Ventureburn **$75M** With 9 others
- **Jan** **[Zipline](https://millionrounds.com/company/zipline)** Growth · US · Crunchbase News **$600M** With 8 others
- **Jan** **[Crown](https://millionrounds.com/company/crown)** Series A · BR · Ventureburn **$14M** *Led*
- **Jan** **[Noise Labs](https://millionrounds.com/company/noise-labs)** Seed · US · AlleyWatch **$7.1M** *Led*
- **2025** 39 rounds
- **Dec** **[YO Protocol](https://millionrounds.com/company/yo-protocol)** Series A · US **$10M** With 3 others
- **Dec** **[Aztec](https://millionrounds.com/company/aztec)** Venture · GB **$61M** With 5 others
- **Nov** **[Kalshi](https://millionrounds.com/company/kalshi)** Series E · US · Conductive Ventures **$1.0B** *Led*
- **Nov** **[Liquid](https://millionrounds.com/company/liquid)** Seed · US · AlleyWatch **$7.6M** *Led*
- **Nov** **[Arizona Sonoran Copper Company](https://millionrounds.com/company/arizona-sonoran-copper-company)** CA **$69M** Sole investor
- **Nov** **[Harmonic](https://millionrounds.com/company/harmonic)** Series C · US **$120M** With 5 others
- **Nov** **[Moon Academy](https://millionrounds.com/company/moon-academy)** Venture **Undisclosed** With 2 others
- **Nov** **[Rift](https://millionrounds.com/company/rift)** Seed · US **$8.0M** Sole investor
- **Oct** **[Kalshi](https://millionrounds.com/company/kalshi)** Series D · US · TechCrunch **$300M** With 6 others
- **Oct** **[Standard Economics](https://millionrounds.com/company/standard-economics)** Seed · US **$9.0M** Sole investor
- **Oct** **[Chainalysis](https://millionrounds.com/company/chainalysis)** Venture · US **Undisclosed** With 3 others
- **Oct** **[MetaDAO](https://millionrounds.com/company/metadao)** Token sale · US **$9.9M** With 2 others
- **Sept** **[Divine Research](https://millionrounds.com/company/divine-research)** Seed · US · Ventureburn **$6.6M** *Led*

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **18 named**

AC **Alaina C. Danley** Director i Filing they signed

AS **Alana Skorniakoff Palmedo** Chief Operating Officer and Managing Partner and Interim Chief Financial Officer i Form ADV

AP **Alexandru Popescu-Negoesti** Chief Compliance Officer i Form ADV

AT **Austin Timmons** Executive Officer i Filing they signed

CR **Christopher Runnels** Executive Officer, Promoter i Filing they signed

CD **Corey Deutsch** Mr. Deutsch is the principal of each of Paradigm Opportunities, LP, the Investment Manager of the Issuer, and Paradigm Opportunities SPV 1 GP, LLC, the General Partner i Filing they signed

DW **Donald Wayne Sullivan** Executive Officer, Promoter i Filing they signed

FC **Frank C. Meyer** Director i Filing they signed

FE **Frederick Ernest Ehrsam** Managing Member of the General Partner i Filing they signed

KE **Kathryn Effie Biber** Chief Legal Officer i Form ADV

KB **Katie Biber** Chief Legal Officer of Paradigm Operations LP i Filing they signed

MH **Matt Huang** Executive Officer i Filing they signed

MK **Matthew Kung-Yu Huang** Managing Member of Paradigm Fund GP LLC i Filing they signed

MU **Michelle U. Gass** Ms. Gass is a managing member of Paradigm Advisors, LLC, the general partner of Paradigm Investment Management, L.P. Paradigm Investment Management, L.P. is the general partner i Filing they signed

RJ **Reena Jashnani-Slusarz** General Counsel and Chief Compliance Officer of Paradigm Operations LP i Filing they signed

SA **Senai Asefaw** Managing Member of the General Partner of the Issuer's Investment Manager and Director i Filing they signed

VM **Victor Murray** Director i Filing they signed

WK **W. Kirk Dunk** Mr. Dunk is a managing member of Paradigm Advisors, LLC, the general partner of Paradigm Investment Management, L.P. Paradigm Investment Management, L.P. is the general partner i Filing they signed

We also hold **44** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$12B** assets it manages Oct 2026

**5+** funds on file numbered funds in its name

**Registered** investment adviser full reporting to the SEC

- **Legal name:** Paradigm Operations LP
- **SEC number:** CRD 299210

Funds on its Form ADV

**5** private funds, **$12B** in gross assets · filed Apr 2024

Private equity **4** Hedge **1**

- Paradigm Fund L.P. *Hedge* 116 investors $7.3B
- Paradigm One L.P. *Private equity* 136 investors $2.8B
- Paradigm One (US) Feeder L.P. *Private equity* 40 investors $1.2B
- Paradigm One (Cayman) Feeder L.P. *Private equity* 27 investors $537M
- Paradigm Green Fortitudo L.P. *Private equity* 2 investors $1.9M

## What they claim to have backed

From their own portfolio page (on their website)

**57** of 60 we have independently watched raise

[AI-powered NFT gaming](https://millionrounds.com/company/ai-arena)[Bitcoin payment infrastructure](https://millionrounds.com/company/lightspark)[Blockchain intelligence platform](https://millionrounds.com/company/chainalysis)[Blockmesh operating system](https://millionrounds.com/company/spacemesh)[Brand loyalty platform](https://millionrounds.com/company/hang)[Chip manufacturing infrastructure](https://millionrounds.com/company/fab2)[Cross-border payments app](https://millionrounds.com/company/standard-economics)[Cross-border payments for](https://millionrounds.com/company/el-dorado)[Cross-chain AMM protocol](https://millionrounds.com/company/osmosis)[Crypto computing system](https://millionrounds.com/company/o1labs)[Crypto exchange in](https://millionrounds.com/company/rain)[Crypto payments &](https://millionrounds.com/company/utopia-labs)[Crypto payments infrastructure](https://millionrounds.com/company/moonpay)[Crypto-enabled narrow bank](https://millionrounds.com/company/n3xt)[DeFi risk management](https://millionrounds.com/company/gauntlet)[Decentralized Ethereum staking](https://millionrounds.com/company/lido)[Decentralized entertainment network](https://millionrounds.com/company/mad-realities)[Decentralized fixed-rate borrowing](https://millionrounds.com/company/yield-protocol)[Decentralized perpetuals exchange](https://millionrounds.com/company/dydx)[Decentralized social protocol](https://millionrounds.com/company/farcaster)[Decentralized structured products](https://millionrounds.com/company/ribbon)[Embedded wallet infrastructure](https://millionrounds.com/company/privy)[Ethereum L2 with](https://millionrounds.com/company/blast)[Ethereum institutional finance](https://millionrounds.com/company/etherealize)[Gaming NFT marketplace](https://millionrounds.com/company/lootrush)[Gitcoin](https://millionrounds.com/company/gitcoin)[Interoperable blockchain ecosystem](https://millionrounds.com/company/cosmos)[Ithaca](https://millionrounds.com/company/ithaca)[Layer 2 blockchain](https://millionrounds.com/company/optimism)[MEV infrastructure and](https://millionrounds.com/company/flashbots)[Markets for decision-making](https://millionrounds.com/company/metadao)[Matrixport](https://millionrounds.com/company/matrixport)[Mobile crypto gaming](https://millionrounds.com/company/limit-break)[Modular DeFi lending](https://millionrounds.com/company/euler)[NFT marketplace Magic](https://millionrounds.com/company/magic-eden)[NFT marketplace OpenSea](https://millionrounds.com/company/opensea)[NFT marketplace for](https://millionrounds.com/company/blur)[Native Bitcoin staking](https://millionrounds.com/company/babylon-labs)[Network for user-owned](https://millionrounds.com/company/vana)[Onchain exchange infrastructure](https://millionrounds.com/company/ellipsis-labs)[Onchain lending and](https://millionrounds.com/company/morpho)[Parallel EVM blockchain](https://millionrounds.com/company/monad)[Play-to-earn gaming Sky](https://millionrounds.com/company/sky-mavis)[Revolut](https://millionrounds.com/company/revolut)[Sci-fi NFT card](https://millionrounds.com/company/parallel)[SocialFi app on](https://millionrounds.com/company/friend)[Stablecoin issuer and](https://millionrounds.com/company/agora)[Stablecoin protocol Maker](https://millionrounds.com/company/makerdao)[Sustainable onchain markets](https://millionrounds.com/company/sorella-labs)[Synthetic derivatives protocol](https://millionrounds.com/company/synthetix)[Taxbit](https://millionrounds.com/company/taxbit)[Wallet transaction security](https://millionrounds.com/company/blowfish)[Web3 wallet Phantom](https://millionrounds.com/company/phantom)[Work and bounty](https://millionrounds.com/company/dework)[ZK proof acceleration](https://millionrounds.com/company/irreducible)[ZK proving infrastructure](https://millionrounds.com/company/axiom)[Zero-knowledge infrastructure Succinct](https://millionrounds.com/company/succinct) Bitcoin mining company Blockchain-based unsecured lending Brazilian real stablecoin and 32 more

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$3.5M**

raised in Sept 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$13M** the round, not its cheque Alone, median **$7.3M**

Led 9 of 176 rounds **5%**

- **Said size:** $25K – $100M
- **Sole investor:** 27 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Venture *44*
- Seed said *42*
- Series A said *32*
- Series C *11*
- Series B said *10*
- Growth said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Coinbase Ventures](https://millionrounds.com/fund/coinbase) 35
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 21
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 17
- [Dragonfly Capital Partners](https://millionrounds.com/fund/dragonfly-capital-partners) 15
- [Robot Ventures](https://millionrounds.com/fund/robot-ventures) 13
- [General Catalyst](https://millionrounds.com/fund/general-catalyst) 9

**Pitching Paradigm?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

The investors most often in the same rounds as Paradigm. A count of rooms they were both in, not a relationship either has claimed.

[**Coinbase Ventures** Corporate VC **35** rounds together](https://millionrounds.com/fund/coinbase)[**Andreessen Horowitz** VC firm **21** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Sequoia Capital** VC firm **17** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Dragonfly Capital Partners** VC firm **15** rounds together](https://millionrounds.com/fund/dragonfly-capital-partners)[**Robot Ventures** VC firm **13** rounds together](https://millionrounds.com/fund/robot-ventures)[**General Catalyst** VC firm **9** rounds together](https://millionrounds.com/fund/general-catalyst)[**Ribbit Capital** VC firm **9** rounds together](https://millionrounds.com/fund/ribbit-capital)[**Coatue** VC firm **8** rounds together](https://millionrounds.com/fund/coatue-management)[**Haun Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/haun-ventures)[**Korea Tech Incubator Program For Startup** Government **8** rounds together](https://millionrounds.com/fund/tips-program)[**SV Angel** VC firm **8** rounds together](https://millionrounds.com/fund/sv-angel)[**A16z Crypto** VC firm **7** rounds together](https://millionrounds.com/fund/a16z-crypto)

## Recently backed

The latest companies Paradigm put money into.

[**Fab2** $500M · Sept 2026](https://millionrounds.com/company/fab2)[**Antares** $470M · Aug 2026](https://millionrounds.com/company/antares)[**idler** $9.0M · Aug 2026](https://millionrounds.com/company/idler)[**Gauntlet** $125M · Jul 2026](https://millionrounds.com/company/gauntlet)[**EDX Markets** $76M · Jul 2026](https://millionrounds.com/company/edx-markets)[**Kalshi** $30M · Jul 2026](https://millionrounds.com/company/kalshi)

## On podcasts

6 episodes naming Paradigm in the title, and 4 more that mention it.

- [TBPN](https://millionrounds.com/podcasts/tbpn) 13 Aug 2025 · 3h 32m OpenAI Prepares ChatGPT for Ad Driven Era, The AI Paradigm Shift | Keith Rabois, Alfred Lin, Keith Sakata, M.D., Talia Goldberg, Dave Girouard, Kylan Gibbs, Sam Jones, Zach Pogrob With [Alfred Lin](https://millionrounds.com/person/alfred-lin)[Dave Girouard](https://millionrounds.com/person/dave-girouard)[Sam Jones](https://millionrounds.com/person/sam-jones) Mentions [Keith Rabois](https://millionrounds.com/fund/keith-rabois)[Paradigm](https://millionrounds.com/fund/paradigm)[Google](https://millionrounds.com/fund/google-assistant-investments) *+1* Apple PodcastsShow page
- [TBPN](https://millionrounds.com/podcasts/tbpn) 31 Jan 2025 · 2h 35m Masa's Epic Rise, New AI Paradigm, The Drone Race, $MSFT Earnings, Evolution of the Tech Bro Mentions [Paradigm](https://millionrounds.com/fund/paradigm) Apple PodcastsShow page
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 16 Dec 2024 · 40 min Eric Peters - Paradigm Shifts and Solutions at One River (EP.422) Mentions [Paradigm](https://millionrounds.com/fund/paradigm) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 29 Jan 2024 · 43 min 418. Why Market Size is Irrelevant, Patterns from Working with the Best Founders, & How AI Compares to Past Paradigm Shifts (Gaurav Jain) With [Gaurav Jain](https://millionrounds.com/person/gaurav-jain) Mentions [Paradigm](https://millionrounds.com/fund/paradigm)[Afore Capital](https://millionrounds.com/fund/afore-capital) Apple PodcastsShow page
- [Invest Like the Best](https://millionrounds.com/podcasts/invest-like-the-best) 13 Dec 2022 · 1h 3m Jeremiah Lowin: Explaining the New AI Paradigm - [Invest Like the Best, EP.307] Mentions [Paradigm](https://millionrounds.com/fund/paradigm)[Positive Sum](https://millionrounds.com/fund/positive-sum) Apple PodcastsShow page
- [Greymatter](https://millionrounds.com/podcasts/greymatter) 14 Jun 2022 · 45 min HashiCorp CEO David McJannet | Powering the Multi-Cloud Paradigm Mentions [Paradigm](https://millionrounds.com/fund/paradigm) Apple PodcastsShow page

### Mentioned in

- [This Week in Fintech](https://millionrounds.com/podcasts/this-week-in-fintech) 1 Oct 2025 · 58 min Figure's Blockchain and the Impact on Capital Markets Apple Podcasts
- [Village Global Podcast](https://millionrounds.com/podcasts/village-global) 5 Jun 2025 · 55 min The Secret to Startup M&A: How To Set Your Companies Up for Big Outcomes with Ezra Roizen of Advsr Apple PodcastsShow page
- [The Logan Bartlett Show](https://millionrounds.com/podcasts/logan-bartlett-show) 9 May 2025 · 1h 29m EP 142: Yotam Segev (CEO, Cyera) on Growing One of the Fastest Security Startups on the Planet Apple Podcasts
- [Invest Like the Best](https://millionrounds.com/podcasts/invest-like-the-best) 22 Apr 2025 · 1h 33m Matt Huang - Investing At The Frontier - [Invest Like the Best, EP.420] Apple PodcastsShow page

## Quick answers about Paradigm

### What does Paradigm invest in?

Paradigm invests most often at Venture and Seed (62% of the rounds on record), in sectors such as Nft, Non-fungible and Decentralized Finance.

### How active is Paradigm?

176 investments on record, 35 of them in the last 12 months, and it led 9. The most recent was in Sept 2026.

### What has Paradigm invested in recently?

Its most recent investments on record: Fab2 (Series A, Sept 2026), Antares (Series C, Aug 2026) and idler (Seed, Aug 2026).

### How big are Paradigm's cheques?

The median round it joins is $13M. It says it writes cheques of $25K to $100M.

### Does Paradigm lead rounds?

Sometimes: it led 9 of its 176 investments on record (5%).

### Where does Paradigm invest?

Most of the companies it backs are in the United States (74%), Canada (8%) and the United Kingdom (5%).

### Is Paradigm investing now?

Yes: it is actively investing, with 35 investments in the last 12 months.

### Who does Paradigm invest alongside?

Most often Coinbase Ventures (35 rounds together), Andreessen Horowitz (21 rounds together) and Sequoia Capital (17 rounds together).

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