Yale University Makes Cryptocurrency Investment Foray

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Yale University Makes Cryptocurrency Investment Foray

Fri Oct 05, 2018 8:07 pm

Details of the Cryptocurrency Investments
According to Bloomberg, Yale University, together with a group of other investors participated in a funding round for a new cryptocurrency fund. Inside sources claim the funding round raised $400 million for Paradigm, a digital asset investment initiative founded by Fred Ehrsam, Matt Huang, and Charles Noyes.

All three founders have experience in the virtual currency scene with Ehrsam being one of the co-founders of Coinbase, the largest virtual currency exchange platform in the US. Huang is a former partner at Sequoia Capital while Noyes is a formerly of Pantera Capital.

Earlier in the year, Noyes revealed that Paradigm would focus primarily on cryptocurrency exchange startups, as well as early-stage altcoins and new blockchain projects. Sequoia Capital is also one of its major backers.

Apart from Paradigm, reports also indicate Yale University invested in the premier Andreessen Horowitz $300 million ‘a16z’ cryptocurrency fund. CNBC reports that David Swensen, the chief investment officer at Yale dedicated part of the University’s $29.4 billion endowment fund into the a16z crypto fund before it closed in June 2018.

https://www.livebitcoinnews.com/yale-un ... ent-foray/

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