The fund, named ‘Paradigm,’ was supposedly established by Fred Ehrsam, co-founder of Coinbaser, Matt Huang, former Sequoia Capital partner, and Charles Noyes, who was a part of stalwart crypto fund Pantera Capital.
According to Wall Street Journal’s report, back in June, Huang left Sequoia to launch the fund along with Ehrsam.
Today, Bloomberg quoted an unidentified source as stating that Yale, whose $30 billion grant is proclaimed to be the second-largest among the higher educational institutions in the US, has funded an undisclosed amount in quintessence.
Bloomberg also reported that 60% of Yale’s assets for fiscal year 2019 are set aside for “alternative investments” such as hedge funds, “venture capital (vc), and leveraged buyouts.”
The report further states that the fund intends to invest in “early-stage” crypto-oriented projects, digital asset exchanges and new blockchains.
It can be remembered that earlier this summmer a group of economists from Yale created a “comprehensive” study of the “risk-return tradeoff” of most popular cryptos such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), based on the historical performance data.