Monad Labs eyes $200 million raise, led by Paradigm: Fortune

Quick Take

  • Paradigm is engaging in discussions to raise more than $200 million in investments for Monad Labs, a layer 1 blockchain project, source familiar with the matter told Fortune. 

Monad Labs is eyeing a more than $200 million fundraising round, led by venture capital firm Paradigm, as investor attitudes warm toward the digital assets industry, Fortune reported on Monday, citing sources familiar with the matter. 

The publication reported that Paradigm has indicated it will pledge $150 million to the Layer 1 project's next funding round, which values the company at $3 billion. The VC firm has engaged in talks with several potential investors since late 2023, gauging their interest in topping off that contribution, sources told Fortune. 

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