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Odd Lots

Paradigm’s Matt Huang on the Biggest Crypto Fund Ever Raised

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.41.6K Ratings

🗓️ 2 December 2021

⏱️ 55 minutes

🧾️ Download transcript

Summary

Money continues to pour into the crypto space at a rapid clip. Institutions, VCs, private investors all seem to have gotten the bug over the last year. But, of course, the big gains have come to those who have been in the space for a while. One of the leading investing institutions in crypto is Paradigm, which was founded during 2018's crypto winter. The firm just announced a new $2.5 billion fund, which is heretofore the biggest crypto fund ever raised. We speak with the firm's co-founder Matt Huang about Paradigm's unique structure, its vision for crypto, and what it plans to do with the money.

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Transcript

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0:00.0

Adlots is brought to you by Apollo. When it comes to building and financing stronger businesses,

0:05.1

Apollo does the heavy lifting by providing customized capital solutions. Apollo,

0:09.6

investing in tomorrow, today. Learn more at Apollo.com.

0:30.3

Hello and welcome to another episode of the Adlots podcast. I'm Joe Wyzenthal.

0:59.6

And I'm Tracy Alloway. We haven't talked about it in a few weeks, but crypto,

1:05.1

price aside, there's always volatility. It's clearly not slowing down at all.

1:09.8

I feel like we have been talking about crypto over the past few weeks, but I guess we haven't

1:14.2

on the podcast. We've written about it on the Adlots site. There's still a lot going on. I mean,

1:21.1

like every day it seems there's a new investment in the space. People are getting more and more

1:25.6

excited about DeFi. These random tokens keep taking off at the same time. Everyone's talking

1:32.8

about NFTs. The list goes on. Right. You know what I feel like with crypto, and it's funny,

1:38.8

like a joke, you know, it's kind of half true. We haven't been talking about it lately. I think I

1:43.3

guess the issue is, if you, I feel like if you go three weeks without having a crypto episode

1:49.3

of the podcast, or if I sort of tune out of crypto for a few weeks, because Sam interested in

1:53.5

supply chains or lumber or inflation or something, then when I try to tune back in, I'm like,

1:59.3

what the heck just happened? Because everything changed so fast. And the new story of the new

2:05.5

coin that people are into, it's changed so fast that I feel like I'm totally behind. So three weeks

2:11.0

of the crypto space feels like three months or a year. Yeah, it's sort of like a dog years type

2:16.2

phenomenon, right? Like crypto just seems to be moving faster than everyone else. Yeah. So anyway,

2:22.1

I want to just get right into it. I'm very excited. There's a long time by crypto standards VC

2:28.4

firm or investment firm called paradigm. If you say the name paradigm to people like in crypto

2:34.5

circles, it's like this like hushed tone because like there's such reverence for this firm.

...

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