English
RussianParadigm is a cryptocurrency-focused investment firm and venture capital company. It was founded by Matt Huang and Fred Ehrsam, both of whom have significant experience in the cryptocurrency and blockchain industry. Paradigm is headquartered in San Francisco, California, and is considered a prominent player in the digital asset and blockchain investment space.
Investors Paradigm
Paradigm
Tier 1Lead investor
Projects
86
Portfolio market cap
$11.87B
sum across all projects
Raised in these rounds
$7.95B
104 of 109 rounds with disclosed amounts
Tier
Tier 1
Lead investor
About the fund
Portfolio · 86
| Project | Price | Entry price | ROI | Stage | Date | Market cap | |
|---|---|---|---|---|---|---|---|
 UniswapUNI | $9.01 | — | — | — | — | $5.63B | |
 MorphoMORPHO | $2.69 | — | — | — | — | $1.89B | |
 Cosmos HubATOM | $1.71 | $0.0525 | 33x | — | — | $911.9M | |
 MonadMON | $0.0344 | $0.0250 | 1.4x | ICO | $406.9M | ||
 Lido DAOLDO | $0.4579 | $0.7300 | 0.63x | Venture Round | $379.9M | ||
 StarkNetSTRK | $0.0432 | — | — | — | — | $320.5M | |
 OptimismOP | $0.1334 | — | — | — | — | $306.8M | |
 CompoundCOMP | $24.98 | — | — | — | — | $249.8M | |
 Axie InfinityAXS | $1.38 | $11.10 | 0.12x | Series B Round | $241.1M | ||
 AUSDAUSD | $0.9998 | — | — | — | — | $220.8M | |
 Mina ProtocolMINA | $0.1612 | $0.1833 | 0.88x | — | — | $207.5M | |
 MetaDAOMETA | $6.29 | $7.83 | 0.80x | OTC Deal | $142.7M | ||
 dYdXDYDX | $0.1482 | — | — | — | — | $125.4M | |
 NumeraireNMR | $11.81 | — | — | — | — | $90.1M | |
 SynthetixSNX | $0.2561 | $0.5000 | 0.51x | — | — | $88.2M | |
 FTX TokenFTT | $0.2562 | $0.4167 | 0.61x | — | — | $84.3M | |
 BabylonBABY | $0.0138 | — | — | — | — | $67.4M | |
 BlurBLUR | $0.0214 | — | — | — | — | $62.1M | |
 SiacoinSC | $0.001021 | — | — | — | — | $57.2M | |
 AztecAZTEC | $0.0174 | $0.0470 | 0.37x | Public Sale | $50.1M | ||
 Magic EdenME | $0.0779 | — | — | — | — | $46.3M | |
 SuccinctPROVE | $0.2153 | — | — | — | — | $42.0M | |
 EulerEUL | $1.45 | — | — | — | — | $34.9M | |
 ZoraZORA | $0.007807 | — | — | — | — | $34.9M | |
 vanaVANA | $1.11 | — | — | — | — | $33.3M | |
 Across ProtocolACX | $0.0426 | — | — | — | — | $30.8M | |
 OsmosisOSMO | $0.0361 | — | — | — | — | $28.5M | |
 Keep NetworkKEEP | $0.0269 | $0.0960 | 0.28x | — | — | $26.0M | |
 AevoAEVO | $0.0265 | $0.1328 | 0.20x | — | — | $24.7M | |
 GitcoinGTC | $0.2254 | — | — | — | — | $19.7M | |
 Blast BLAST | $0.0001536 | — | — | — | — | $10.8M | |
 ParagonsDAOPDT | $0.0672 | $0.3400 | 0.20x | — | — | $5.5M | |
 Ribbon FinanceRBN | $0.0265 | — | — | — | — | $1.8M | |
 Rai Reflex IndexRAI | $3.08 | — | — | — | — | $1.5M | |
 Reflexer Ungovernance TokenFLX | — | — | — | — | — | $259.7K | |
 Friend.techFRIEND | $0.002584 | — | — | — | — | $245.2K | |
 Exotic MarketsEXO | $0.0535 | — | — | — | — | $48.6K | |
 SpacemeshSMH | $0.000249 | — | — | — | — | $26.2K | |
 ReddioRDO | $0.00000746 | — | — | — | — | $22.8K | |
 RoyaleROYA | — | $0.0450 | 0.01x | — | — | $11.5K | |
 JETJET | — | $0.0400 | — | — | — | $5.0K | |
 Opyn SqueethOSQTH | $88.54 | — | — | — | — | — | |
 MakerMKR | $2 210 | $500 | 4.4x | — | — | — | |
 Axiom | — | — | — | — | — | — | |
 Flashbots | — | — | — | — | — | — | |
 D3D3 | — | — | — | — | — | — | |
 Noble | — | — | — | — | — | — | |
 Privy | — | — | — | — | — | — | |
 Shadow | — | — | — | — | — | — | |
 Mesh | — | — | — | — | — | — | |
 YO (Prev. Yield Protocol) | — | — | — | — | — | — | |
 Parallel | — | — | — | — | — | — | |
 Phoenix | — | — | — | — | — | — | |
 Chainalysis | — | — | — | — | — | — | |
 El Dorado | — | — | — | — | — | — | |
 Plural | — | — | — | — | — | — | |
 Farcaster | — | — | — | — | — | — | |
 Symbiotic | — | — | — | — | — | — | |
 Kuru | — | — | — | — | — | — | |
 Sorella | — | — | — | — | — | — |
Showing 60 of 86 — the rest fall below this market-cap range.
Entry price and ROI come from the source's data for this fund. Stage and date are derived by matching the entry price against the project's rounds; where there is no match, a dash is shown.
Funding rounds · 109
| Project | Stage | Raised | Valuation | Date |
|---|---|---|---|---|
 M1X Global Lead | Seed Round | $5.5M | $55.0M | |
| El Dorado Lead | Series A | $9.0M | $90.0M | |
| Morpho Lead | Strategic Round | $175.0M | $1.75B | |
 Pixie Chess Lead | Seed Round | $5.2M | $52.0M | |
 Kalshi | Series F | $1.00B | $22.00B | |
 Zodl | Seed Round | $25.0M | $250.0M | |
| Mesh | Series C | $75.0M | $1.00B | |
 Noise Lead | Seed Round | $7.1M | $71.0M | |
 Crown | Series A | $13.5M | $90.0M | |
| Kalshi Lead | Series E | $1.00B | $11.00B | |
 Rift Lead | Seed Round | $8.0M | $80.0M | |
 Harmonic Lead | Seed Round | $6.0M | $60.0M | |
 Liquid Lead | Seed Round | $7.6M | $76.0M | |
 Standard Economics Lead | Seed Round | $9.0M | $90.0M | |
| MetaDAO | OTC Deal | $5.9M | $59.0M | |
| Kalshi | Series D | $300.0M | $5.00B | |
 Divine Lead | Seed Round | $6.6M | $66.0M | |
 Tempo | Incubation | — | — | |
| Plural Lead | Seed Round | $7.1M | $71.3M | |
 Etherealize Lead | Funding Round | $40.0M | $400.0M | |
| AUSD Lead | Series A | $50.0M | $500.0M | |
| Kuru Lead | Series A | $11.6M | $116.0M | |
| Kalshi Lead | Series C | $185.0M | $2.00B | |
 GTE Lead | Series A | $15.0M | $150.0M | |
 3Jane Lead | Seed Round | $5.2M | $52.0M | |
| Reddio Lead | Series A | — | $80.0M | |
 Nous Research | Series A | $50.0M | $1.00B | |
 Consensus Value Creation | Strategic Round | $20.0M | $200.0M | |
| Privy | Funding Round | $15.0M | $150.0M | |
| Mesh Lead | Series B | $82.0M | $820.0M | |
| Across Protocol Lead | Private Token Sale | $41.0M | $410.0M | |
 Irreducible Lead | Series A | $24.0M | $240.0M | |
| D3 Lead | Funding Round | $25.0M | $250.0M | |
 Phantom Lead | Series C | $150.0M | $3.00B | |
| Noble Lead | Series A | $15.0M | $150.0M | |
 Ithaca | Funding Round | $20.0M | $200.0M | |
| Sorella Lead | Seed Round | $7.5M | $75.0M | |
| MetaDAO | Funding Round | $2.2M | $22.0M | |
| Symbiotic Lead | Seed Round | $5.8M | $58.0M | |
| Babylon Lead | Funding Round | $70.0M | $700.0M | |
| Farcaster Lead | Series A | $150.0M | $1.00B | |
| Reddio | Seed Round | — | — | |
| Monad Lead | Funding Round | $225.0M | $2.25B | |
| Phoenix Lead | Series A | $20.0M | $200.0M | |
| Succinct Lead | Series A Round | $55.0M | $550.0M | |
| Axiom Lead | Series A | $20.0M | $200.0M | |
| Shadow Lead | Seed Round | $9.0M | $90.0M | |
| Privy Lead | Series A | $18.0M | $180.0M | |
| Blast | Funding Round | $20.0M | $200.0M | |
| Friend.tech | Seed Round | — | — | |
| Flashbots Lead | Series B | $60.0M | $1.00B | |
| Irreducible Lead | Seed Round | $15.0M | $150.0M | |
| vana Lead | Series A | $18.0M | $180.0M | |
| Uniswap | Series B | $165.0M | $1.66B | |
 Blowfish Lead | Funding Round | $11.8M | $118.0M | |
 SignalPlus | Series A | — | — | |
| Magic Eden | Series B Round | $130.0M | $1.30B | |
| Privy Lead | Seed Round | $8.3M | $83.0M | |
| Axie Infinity | Funding Round | $150.0M | $1.50B | |
| Ribbon Finance Lead | Venture Round | $8.8M | $88.0M | |
 Gauntlet | Series B | $23.8M | $1.00B | |
 Praxis Lead | Series A | $15.0M | $150.0M | |
| Magic Eden Lead | Series A Round | $27.0M | $270.0M | |
| Optimism | Series B Round | $150.0M | $1.65B | |
| Blur Lead | Seed Round | $11.0M | $110.0M | |
| Phantom Lead | Series B | $109.0M | $1.20B | |
| Exotic Markets | Venture Round | $5.0M | $50.0M | |
 OpenSea Lead | Series C | $300.0M | $3.00B | |
| FTX Token | Series C | $400.0M | $4.00B | |
| ParagonsDAO Lead | Private Round | $27.1M | $270.7M | |
| Aztec Lead | Series A | $17.0M | $170.0M | |
 MoonPay | Series A | $555.0M | $3.40B | |
| Parallel Lead | Seed Round | $50.0M | $500.0M | |
| Osmosis Lead | Venture Round | $21.0M | $210.0M | |
| Axie Infinity | Series B Round | $150.0M | $3.00B | |
| StarkNet | Series C | $50.0M | $2.00B | |
| Euler Lead | Series A | $8.0M | $80.0M | |
| JET | Follow-on Round | $6.8M | $68.0M | |
| FTX Token | Series B | $900.0M | $9.00B | |
| YO (Prev. Yield Protocol) Lead | Series A | $10.0M | $100.0M | |
| dYdX Lead | Series C | $65.0M | $650.0M | |
| Lido DAO Lead | Venture Round | $51.0M | $730.0M | |
| Chainalysis Lead | Series D | $100.0M | $2.00B | |
| Gitcoin Lead | Funding Round | $11.3M | $113.0M | |
| Opyn Squeeth Lead | Series A | $6.7M | $67.0M | |
| Optimism | Series A Round | $25.0M | $250.0M | |
| StarkNet Lead | Series B | $75.0M | $750.0M | |
| Synthetix Lead | Funding Round | $12.0M | $120.0M | |
| Mina Protocol | Strategic Round (unlocked) | $6.6M | $250.0M | |
| Mina Protocol | Strategic Round (locked) | $4.3M | $150.0M | |
| Siacoin Lead | Seed Round | $3.0M | $30.0M | |
| Gauntlet | Funding Round | $4.3M | $43.0M | |
| Rai Reflex Index Lead | Seed Round | $1.7M | $17.0M | |
| Reflexer Ungovernance Token Lead | Seed Round | $1.7M | $17.0M | |
| Royale | Seed Round | $350.0K | $3.2M | |
| Uniswap | Series A | $11.0M | $110.0M | |
| Compound | Series A | $25.0M | $250.0M | |
| Optimism | Seed Round | $3.5M | $35.0M | |
| Uniswap | Seed | $1.8M | $18.0M | |
| Mina Protocol Lead | Series A | $15.0M | $150.0M | |
| Numeraire Lead | Series B | $11.0M | $110.0M | |
| Maker Lead | Seed Round 3 | $27.5M | $500.0M | |
| Keep Network Lead | Venture Round | $7.7M | $77.0M | |
| Aztec | Seed Round | $2.1M | $21.0M | |
| Spacemesh | Series A | $15.0M | $150.0M | |
| StarkNet Lead | Series A | $30.0M | $300.0M | |
| Compound | Seed Round | $8.2M | $82.0M | |
| Cosmos Hub | Strategic Round | $1.3M | $18.9M | |
| Cosmos Hub | Seed | $300.0K | $5.9M |
Focus areas
DeFi5
Blockchain5
Layer-24
Ethereum Ecosystem3
Infrastructure3
DEX2
Lending Platform2
Co-investors
Andreessen Horowitz (a16z)9 shared
Coinbase Ventures8 shared
Polychain Capital6 shared
IOSG Ventures6 shared
Dragonfly Capital6 shared
HashKey Capital5 sharedFunds that most often back the same projects.