Yale University: One of the world’s largest university endowments has invested in two cryptocurrency funds. 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.
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.
David Swenson — Yale’s “Warren Buffet” — invested university money in Andreessen Horowitz’s $300 million cryptocurrency fund, which the firm announced in June. Notably, a16z said at the time that it does not intend to be a fair-weather investor.
“We have an ‘all weather’ fund. We plan to invest consistently over time, regardless of market conditions. If there is another ‘crypto winter,’ we’ll keep investing aggressively,” the firm said at the time.
This move from the Swensen is looking like a historic moment for other people who all connected with the cryptocurrency world. Also, it creates confidence in the people mind to do additional things in the digital market.