Deals
Yale Invests in Crypto Fund That Raised $400 Million
- Paradigm was started by Coinbase’s Ehrsam, Sequoia’s Huang
- Ivy League school targets 60% of 2019 assets in alternatives
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Yale University, the Ivy League school that has invested in everything from Puerto Rican bonds to timber in New Hampshire, is getting into the market for cryptocurrencies.
The second-largest endowment in higher education is among investors that helped a new fund focused on digital assets raise $400 million, according to a person with knowledge of the matter, who asked not to be identified because the information is private. The fund, called Paradigm, was recently started by Coinbase Inc. co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, an ex-employee of crypto fund Pantera Capital.