Update. Initially it was reported that Paradigm Capital raised the funds. The OTC trading firm is not related to the investment company.
Cryptocurrency OTC trading firm Paradigm has announced the closing of a $35 million Series A funding round co-led by Jump Capital and Alameda Ventures. According to a press release, other investors, including BitDAO, Dragonfly Capital, and Nexo also participated in the funding. The round brings the company's valuation at $400 million.
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In June this year, a16z completed the fundraising for its third crypto fund, which attracted $2.2 billion. According to reports, the fund plans to charge about 2.5% fees for most of the first decade. Out of a $2 billion fund, its earnings in fees alone will amount to as much as $50 million annually.
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