Paradigm

Matt Huang co-founded Paradigm in 2018 and is managing partner. He was previously a partner at Sequoia Capital, where he led internet, mobile and frontier investing and the firm's crypto effort with early positions in ByteDance, Instacart and Benchling, and earlier started Hotspots, a Y Combinator company Twitter acquired in 2012. He sits on the boards of Stripe and Kalshi and co-founded Tempo, a payments network built with Stripe. He holds a mathematics degree from MIT.

Fred Ehrsam, the other co-founder and a co-founder of Coinbase, stepped down as managing partner in October 2023 and is now listed as senior advisor. Alana Palmedo is managing partner, having joined shortly after founding to run compliance and finance. General partners are Dan Robinson, Georgios Konstantopoulos, who is also chief technology officer, and Frankie. Katie Biber is chief operating officer.

Paradigm has raised four flagship funds since 2018, and the legal entity names lag the ordinal by one. The first fund filed in December 2018 with $400M sold, amended up to $739.9M by the end of 2019 and to $986.9M by a December 2025 amendment; Harvard, Yale and Stanford participated as limited partners. The second fund, the entity named Paradigm One, filed in November 2021 and raised roughly $2.49B across a master fund, a US feeder and a Cayman feeder, the widely reported $2.5B vehicle. The third fund, Paradigm Two, launched in 2024; no filing discloses its size. The fourth fund was announced by the firm on 8 July 2026 at $1.2B.

Regulatory assets under management were $11.87B across eight accounts as of a June 2026 adviser filing, with 61 employees and 13 performing investment advisory functions. Smaller vehicles include an opportunities fund from 2021 and a Series 1 fund filed in June 2026 with a $25M offering.