Venture capital firm Paradigm has successfully closed its third crypto investment fund at $850 million, marking one of the largest raises in crypto fund history. The fund, announced on June 13, aims to support early-stage projects in the crypto and blockchain sectors amidst a rebounding market. Paradigm's co-founder, Matt Huang, highlighted their continued confidence in crypto's long-term potential since the firm's inception in 2018. Known for backing prominent crypto companies like Coinbase, Uniswap, and MakerDAO, Paradigm's latest fundraise follows earlier reports speculating a raise between $750 million and $850 million. The firm's previous fund closed at $2.5 billion in November 2021, reflecting increasing investor interest in blockchain startups amid a robust funding environment.