Fred Ehrsam

Co-founder & Managing Partner · Paradigm

Check $1M–$25M

SEED

SERIES A

Crypto

Investment thesis

Crypto is eating the world. I back founders building decentralized infrastructure, consumer crypto, and frontier protocols — looking for systems with strong network effects.

Communication style

Big-picture, founder-friendly. Willing to dive deep on technical detail. Strong opinions on token design.

Red flags

•Centralized systems masquerading as decentralized
•Founders who don't understand their own token dynamics

Signature questions

1.Why crypto for this specific problem?
2.How does decentralization actually matter here?
3.What's the regulatory risk and how do you mitigate it?

Selected portfolio

Coinbase

Compound

Optimism

StarkWare

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