Paradigm Operations LP

CandidateSEC-registered adviser· San Francisco, Californiaparadigm.xyz

Paradigm is a frontier technology investment firm that builds and invests in crypto, AI, robotics, and across new frontiers from the earliest stages.

In the firm's own words, from its website.

Reported fund assets
$15B
the adviser's own Form ADV total
New companies, 12 mo
None
Investment team
2
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

3 additional team members, 38 additional co-investors and affiliates, 35 additional investments, funds and LPs, 7 events, 7 verified contacts (4 published business email, 2 general firm email, 1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

  1. 3 vehicles
    on Form D, 18 months

    3 vehicles filed a Form D in the last 18 months, the latest Caper Investments on 29 Sep 2026.

    A Form D is filed when a vehicle takes its first money, so these are open to LPs now.

    FactSEC Form D filingsFor LPs, fund-of-funds, placement agentsVehicles →
  2. 8 deals
    with CNK Equity Partners I

    Invests most often alongside CNK Equity Partners I (8 shared deals) and Sequoia Capital (7 shared deals).

    pair last observed on record 30 Sep 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.

    Measuredshared rounds and portfolio companies on recordCo-investors →

People to know

View all people
  • Chief Operating Officer And Managing Partner And Interim Chief Financial Officer
    Why: Managing partner: runs the firm
    No route on file yet
  • Managing Member
    Why: Named with investment responsibility
    No route on file yet

Relationship network

86 connected entities6 observed rounds2 repeat counterparties

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

Reading the network
  • Sponsor
  • Company
  • Fund or vehicle
  • Person
›How strength and recency are read

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Paradigm Operations LP: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to Paradigm Operations LP

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

38 companies on record, 0 new in 12 months

Investments on record

38 companies, 6 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Andromedaportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Andromeda AI compute marketplaceportfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website
Antares Corp.portfolio listingunknownunknownunknownunknownSep 30, 2026Fact Firm website

Stated thesis versus observed behaviour

44 observed deals
Stated (the firm’s website)
Sectors
ai, deep tech, hardware, robotics, crypto, devtools
Stages
not stated or not yet read
Geography
not stated
Check size
not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Industries, each company once
Business services (1)Hardware and deep tech, Software or Tech-enabled and IT services (1)
lead rate no observed dealsfollow-on rate 100%new companies, 12 months 0

Team

5 current, 4 departed

Decision makers

who to call first, and why; then everyone else by function
  • Alana Skorniakoff Palmedo · Chief Operating Officer And Managing Partner And Interim Chief Financial Officer
    Why this person: Managing partner: runs the firm; Named with investment responsibility
  • Matthew Kung-Yu Huang · Managing Member
    Why this person: Named with investment responsibility
Who else at this firm · 1 person, grouped by function
Finance, operations and compliance (1)

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team

5 current, 4 departed
4 departed (kept with end dates)

Contacts

2 general firm email, 4 published business email, 1 firm phone

2 general firm email, 4 published business email, 1 firm phone on record, each with its source. Values open with the complete profile.

Funds and LPs

3 vehicles, 0 LPs disclosed

Funds and vehicles

3 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Paradigm Three (US) Feeder LPFeeder or parallelunknownFundraisingunknownunknown$0Mar 25, 2026
Paradigm Three LPFundunknownFundraisingunknownunknown$0Mar 25, 2026
Caper Investments LPFundunknownFundraisingunknownunknown$0Sep 29, 2026

Limited partners

0 LPs, 0 disclosed commitments
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.

Known LPs and allocators

0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

63 co-investors · on 4 other DFX graphs

Co-investors

63 counted from shared deals, for the whole firm

Compare portfolios with CNK Equity Partners I, LLC, Sequoia Capital, A.capital Ventures or any firm. Co-investors across the market

Across DFX and the capital chainon 4 other DFX graphs Show
Across DFX
Across the graphs

Paradigm Operations LP is the same institution as 4 records in Independent Sponsors, Private Equity, RIA and Wealth and Private Credit.

Independent Sponsors1Private Equity1RIA and Wealth1Private Credit1

DFX found 4 relationships across 4 datasets

Which record it is in each graph, what it is called there, and how the two were matched.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Checking your plan…

Evidence and history

12 dated events, 67 observations from 3 sources

Timeline

12 dated events
  1. seen on or beforeSep 24, 2026
    Paradigm Operations LP: PE_WITH_VENTURE_ACTIVITY -> CANDIDATE_VC (no sworn venture fact yet (name or round mention only))
    Classification changedClassificationInference
  2. Sep 29, 2023
    Nathan Tovin Apsel (Chief Financial Officer) no longer on Schedule A of Paradigm Operations LP
    Person leftPeopleInferenceNathan Tovin ApselForm ADV
  3. Sep 29, 2023
    Reena Nmn Jashnani-Slusarz (General Counsel) no longer on Schedule A of Paradigm Operations LP
    Person leftPeopleInferenceReena Jashnani-SlusarzForm ADV
  4. Dec 1, 2022
    Alexandru Popescu-Negoesti joined Schedule A of Paradigm Operations LP as Chief Compliance Officer
    Person joinedPeopleFactAlexandru Popescu-NegoestiForm ADV
  5. Jun 1, 2022
    Kathryn Biber joined Schedule A of Paradigm Operations LP as Chief Legal Officer
    Person joinedPeopleFactKathryn BiberForm ADV

Identity and regulatory footprint

Address, phone, Form ADV filing and ownersForm ADV filed Jun 5, 2026 · 8 private fundsShow
Headquarters
San Francisco, CAadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
SEC adviser type
Registered investment adviseradviserinfo.sec.gov
SEC exemption claimed
unknown
Latest Form ADV
Jun 5, 2026
Private funds reported
8 (0 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$15Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Regulatory AUM
$10Bthe adviser's RAUM, a regulatory measure, never a fund size
Employees
59
Owners on Schedule A
Paradigm Operations GP LLC (General Partner), owns under 5%; FE Management LP (General Partner); FE Management LP (Managing Member), owns 50% to 75%

Classification history

Every classification this record has carried3 on recordShow
  1. Sep 24, 2026
    Candidate (candidate, 50%)
    No sworn venture fact yet (name or round mention only)
  2. Sep 23, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 0% of 8 private funds
  3. Sep 12, 2026
    Private equity with venture activity (probable, 75%)
    Registered adviser; venture funds are 0% of 5 private funds

Evidence

67 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC adviser typeRegistered investment adviserJun 5, 2026FactForm ADV
SEC adviser typeRegistered investment adviserApr 25, 2024FactForm ADV
First Form ADV filing2018-10-29Jun 5, 2026FactForm ADV
First Form ADV filing2018-10-29Apr 25, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-30Oct 1, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-06-05Jun 5, 2026FactForm ADV
Latest Form ADV filing2024-04-25Apr 25, 2024FactForm ADV
Venture share of reported funds0Jun 5, 2026FactForm ADV
Venture share of reported funds0Apr 25, 2024FactForm ADV
Business phoneApr 25, 2024FactForm ADV
Contact page urlSep 30, 2026Fact
Contact page urlSep 16, 2026Fact
DescriptionSep 30, 2026Fact
DescriptionSep 16, 2026Fact
DescriptionSep 13, 2026Fact
Employees59Apr 25, 2024FactForm ADV
HeadquartersSan Francisco, CAApr 25, 2024FactForm ADV
Office addressApr 25, 2024FactForm ADV
Portfolio pageSep 30, 2026Fact
Portfolio pageSep 16, 2026Fact
Portfolio pageSep 13, 2026Fact
Private funds reported8Jun 5, 2026FactForm ADV
Private funds reported5Apr 25, 2024FactForm ADV
Private fund gross assets (reported)$15BJun 5, 2026FactForm ADV
Private fund gross assets (reported)$12BApr 25, 2024FactForm ADV
Regulatory AUM (adviser, not fund size)$10BApr 25, 2024FactForm ADV
Stated sectorsAI, deep tech, hardware, robotics, crypto, devtools
“sector words on the home page”
Sep 30, 2026Fact
Stated sectorsAI, deep tech, hardware, robotics, crypto, devtools
“sector words on the home page”
Sep 16, 2026Fact
Stated sectorsAI, deep tech, hardware, robotics, crypto, devtools
“sector words on the home page”
Sep 13, 2026Fact
Team pageSep 30, 2026Fact
Team pageSep 16, 2026Fact
Team pageSep 13, 2026Fact
Venture funds reported0Jun 5, 2026FactForm ADV
Venture funds reported0Apr 25, 2024FactForm ADV
WebsiteApr 25, 2024FactForm ADV
Site titleSep 30, 2026Fact
Site titleSep 16, 2026Fact
Site titleSep 13, 2026Fact
How this is scored
Scores, classification basis and filing advisersCandidate, candidateShow
Importance
28
moderate
Active deployment
0
low
Emerging
0
low
Freshness
100
high
CandidateSEC registered investment adviser

No sworn venture fact yet (name or round mention only)

The inputs behind each score
importance
gav: 0 · funds: 0.25 · people: 0.08 · investments: 0.61 · scale basis: Venture-typed funds only (Candidate): 3 funds, $0M of $14.8B reported · co investors: 0.73
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: not scored
emerging manager
fund count: 3 · reported gav: $15B · first adv filing: 2018-10-29 · years since first filing: 7.9

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

1 identity change, 2 dated events on the change ledger, latest event first
  • Organization classification changed
    2026-09-24
  • Fund refused
    2026-09-14
  • Adviser's first ADV filing
    2018-10-29source on record

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

Not yet on record: latest vintage.