Paradigm

Paradigm writes checks from $1M to $100M+, covering seed through growth-stage investments. The fund's $8.5B+ in assets under management across multiple funds gives it the capacity to lead or co-lead rounds at virtually any stage, though its reputation is most strongly associated with backing technically ambitious infrastructure projects from an early stage.

Paradigm explicitly favours warm introductions via the ecosystem — particularly from existing portfolio founders or credible infrastructure builders. A highly effective pre-introduction strategy is publishing technical research or contributing meaningfully to open-source codebases that Paradigm's team follows. Partners like Dan Robinson actively engage with public technical discourse, and intellectually serious work genuinely gets noticed before a formal pitch.

Paradigm's identity is defined by its engineering-led investment approach — the fund backs deep infrastructure builders, protocol researchers, DeFi architects, and teams pushing cryptographic frontiers. Projects building core crypto systems (consensus, MEV, AMM design, ZK infrastructure) are the clearest fit. Consumer crypto projects are also within scope, but the fund's edge and conviction is strongest for technically ambitious foundational work.

Paradigm strongly prefers warm introductions over cold outreach, reflecting its team's view that the most credible founders typically come via ecosystem relationships rather than inbound application. That said, publishing exceptional technical research is documented to have caught Paradigm researchers' attention and led to direct engagement — making intellectual output a legitimate pathway.

Paradigm was co-founded by Fred Ehrsam (ex-Coinbase co-founder) and Matt Huang (ex-Sequoia partner). Dan Robinson serves as Research Partner and is one of the most prolific public contributors to DeFi research — his work on AMM design, MEV, and cryptographic primitives has become industry standard. The small team size means founder relationships are directly with these principals rather than junior staff.

Given Paradigm's small, senior team and preference for deep technical evaluation, its process tends to be thorough rather than fast. The fund prioritises conviction over speed — founders should expect multiple rounds of technical discussion and research review before a decision. Pre-existing relationship through the ecosystem or published research can significantly compress the initial engagement timeline.