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Yale said to invest in crypto fund that raised 400 million dollars

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Even though it has not been officially confirmed, Yale University is said to have invested in a major crypto fund called Paradigm, set up by Coinbase co-founder Fred Ehrsam, Matt Huang, former partner at Squoia Capital, and Charles Noyes who previously worked at Pantera Capital.

According to a report from Bloomberg, published on Friday, Yale, which boasts second-largest endowment among educational institutions globally (valued at 27.2 billion dollars in 2017, according to YaleNews), was among investors that helps the Paradigm raise 400 million dollars in the last months.

The size of its investment in the Paradigm fund could not be ascertained, and the New Haven, Connecticut-based school, didn’t immediately respond to a message seeking comment.

Paradigm aims to invest in early-stage cryptocurrency, blockchain and exchange projects, Noyes told Bloomberg in June. The firm declined to comment for this story.

The Yale endowment has grown to its current valuation from an initial fund of 562 pounds donated by founder Elihu Yale in 1718.

With the reputation for seeking out more investments, Yale’s endowment has generated yearly returns of around 12.6 percent since the mid-’80s, the online knowledge source says.

Image Credit: Deposit photos

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