Paradigm Fund Series 1, LP — a private digital asset trading fund. The strategy seeks to capture returns from price movements in both directions, employing risk management practices customary among private funds. Three-year pre-fund track record described below.1
Past performance is not indicative of future results. An investment in the Fund involves substantial risk, including the possible loss of all invested capital. See “Risk Factors” and the legal disclosures at the bottom of this page. Any offer or sale of interests will be made only by the Fund's Private Placement Memorandum and subscription documents.
1 Returns shown reflect the trading strategy as operated by a predecessor entity (White Hat Capital Group) from January 2023 through December 2025. The Fund itself was formed in 2025 and its performance since formation is limited. Predecessor results were generated under different account sizes, fee arrangements, and operating conditions, and are not the performance of the Fund. 2 Bitcoin and S&P 500 figures are price-only returns over the same period and do not include reinvested dividends or fees. Indices are unmanaged and cannot be invested in directly.
Paradigm Reserves manages a private digital asset trading fund. The Fund seeks to trade Bitcoin, Ethereum, and other digital assets using a disciplined, short-duration strategy. The strategy seeks returns from price movements in either direction; there is no guarantee that any trade or any period will be profitable.
The strategy is actively managed and is not a passive long-only investment. The Fund seeks to capture returns from short-term price movements in both directions while employing position-level risk controls.
The strategy originated from a predecessor private trading operation called White Hat Capital Group, which operated for three years before the Fund was formed. Pre-fund results reflect that predecessor operation and are not the performance of the Fund.1
The strategy may take long positions (seeking gains when prices rise) or short positions (seeking gains when prices fall) based on systematic signals rather than discretionary conviction. Short selling involves additional risks, including potentially unlimited losses.
Positions are typically held for hours rather than days or weeks, which the manager believes reduces exposure to overnight and weekend gap risk. Short holding periods do not eliminate market risk, slippage, or execution risk.
Each position is allocated its own risk budget rather than relying on cross-margined exposure. This is intended to limit position-level loss propagation but does not eliminate fund-level loss risk, and leverage may amplify both gains and losses.
The strategy uses systematic inputs — price action, volume, momentum, and market microstructure — to inform entry, exit, and direction. Systematic models can fail, particularly in unprecedented market conditions.
Pre-fund trading results, January 2023 through December 2025, plus partial 2026 figures.1
1 Pre-fund / predecessor performance. All figures shown above through December 2025 reflect the strategy as operated by a predecessor entity (White Hat Capital Group), not the Paradigm Fund Series 1, LP. Results are presented gross of management fees, performance allocation, and fund-level expenses; net-of-fee results would be lower. Q1 2026 figures reflect the early period of Fund operations and are unaudited and subject to revision. Win-rate calculations exclude two months in which no trading occurred (July 2023 and August 2024). “Positive trading months” (33 of 36) excludes those non-trading months. Past performance is not indicative of future results, and there is no guarantee the strategy will achieve comparable returns.
Comparison of the predecessor strategy's returns to Bitcoin and the S&P 500 over the same period.1,2
In the predecessor period, the strategy posted a positive return in approximately 79% of months when Bitcoin's price return was negative.
In the predecessor period, the strategy posted a positive return in 9 of the 10 months when the S&P 500's price return was negative.
1 Pre-fund predecessor performance, gross of fees and expenses. Indices are unmanaged and cannot be invested in directly. 2 Bitcoin and S&P 500 figures are price-only returns and exclude dividends. The Fund's strategy, asset class, leverage, and risk profile differ materially from these indices, and direct comparison has inherent limitations. Past performance is not indicative of future results.
The structure in plain English.
Illustrative only. Past performance does not guarantee future results.
Hypothetical illustration only. Applies the predecessor strategy's annual returns from 2023, 2024, and 2025 to the selected starting amount, compounded. Hypothetical performance has inherent limitations: it does not reflect actual trading, may not account for the impact of capital flows or contemporaneous market conditions, and is prepared with the benefit of hindsight. Figures are gross of management fees, performance allocation, fund expenses, custody fees, and taxes — net results to an investor would be materially lower. This is not a projection, forecast, or guarantee of future results, and no representation is made that any investor will or is likely to achieve results similar to those shown. Past performance is not indicative of future results.
Before Paradigm Fund Series 1 existed as a formal fund, the strategy ran for three years inside a private trading operation called White Hat Capital Group. It wasn't an idea on paper — it was live capital, real trades, and a real track record.
Three years of data. Thirty-three positive months out of thirty-six. A worst drawdown of just −5.78%. Performance that beat both Bitcoin and the S&P 500.
In 2025 we formalized the strategy into a Texas Limited Partnership under Reg D 506(b) — a regulatory framework commonly used by private investment funds — with third-party custody and an independent NAV administrator. Same strategy. Institutional wrapper.
1 Predecessor performance was generated at White Hat Capital Group, a separate entity, under different account sizes, fee arrangements, and operating conditions. It is presented for informational purposes and is not the performance of Paradigm Fund Series 1, LP. Past performance is not indicative of future results.
A summary of selected risks. The Fund's Private Placement Memorandum contains a more complete description and should be read in full before investing.
An investment in the Fund is speculative and involves a high degree of risk. Investors should be prepared to lose all of their invested capital. There is no assurance that the Fund will achieve its objectives or that any historical results will be repeated.
Bitcoin, Ether, and other digital assets are highly volatile, can experience large drawdowns over short periods, and may trade 24/7 with limited price discovery. Markets may become illiquid or dislocated, and prior price patterns are not predictive.
The strategy may use leverage and take short positions. Leverage magnifies both gains and losses. Short positions involve the risk of unlimited losses if the underlying asset rises in price, as well as borrow costs, recall risk, and forced buy-ins.
Digital assets are subject to risks not present in traditional securities, including custodial failure, hacking, theft of private keys, exchange insolvency, smart-contract failure, and blockchain or network disruptions. Insurance coverage, where it exists, may be limited.
The legal and regulatory treatment of digital assets is evolving and uncertain. Future changes — including new SEC, CFTC, IRS, banking, or state-level rules — could materially affect the Fund's strategy, costs, available trading venues, custodians, tax treatment, and ability to operate.
Although the Fund offers monthly redemptions with 30 days' notice, redemptions may be suspended, gated, paid in kind, or delayed under circumstances described in the Fund's governing documents. Interests are not freely transferable and there is no public market for them.
Performance shown for periods prior to 2026 reflects a predecessor entity (White Hat Capital Group), not the Paradigm Fund Series 1, LP. Predecessor results were generated under different account sizes, fee arrangements, leverage, and operating conditions, and are presented gross of fees and expenses. Net-of-fee, fund-level results would be lower. Predecessor performance is not the performance of the Fund and is not indicative of future results.
The strategy relies on the General Partner's discretion, models, and assumptions about market behavior. Markets may behave in ways that the strategy did not anticipate, models may contain errors, and prior signals may stop working. There is no assurance that risk controls or position limits will prevent losses.
The Fund pays a management fee and a performance allocation to the General Partner, which create incentives that may differ from those of investors. The General Partner and its affiliates may have other business activities that present actual or potential conflicts of interest. Fees and expenses will reduce returns. See the PPM for full details.
The Fund depends on the continued service of a small team of key persons, the loss of any of whom could materially affect operations. The strategy may at times be concentrated in a limited number of positions, asset classes, or counterparties, increasing exposure to any single risk.
The Fund is offered in reliance on an exemption from registration under Rule 506(b) of Regulation D. The Securities and Exchange Commission has not reviewed, approved, or endorsed the Fund, the offering, or this material, and has not passed on the accuracy or adequacy of any disclosures made by the Fund.
An investment in the Fund will have tax consequences that depend on each investor's circumstances. Trading in digital assets may generate ordinary income, short-term capital gains, and complex reporting obligations. Tax law in this area is unsettled. Investors should consult their own tax advisors before investing.
The risks summarized above are not exhaustive. The complete description of risks, conflicts of interest, fees, expenses, and other material terms is set forth in the Fund's Private Placement Memorandum and Limited Partnership Agreement, which prospective investors must review and which control in the event of any inconsistency with this material.
A trader, an operator, and an allocator — building the fund we'd want our own families to invest in.
The architect of the strategy. Three years and 461% before Paradigm existed.
Chris's edge is the rare blend of a clinician's pattern recognition and a competitor's nerve. A pre-med student and collegiate baseball player, he learned early that high-stakes performance is built on repetition, discipline, and the ability to stay calm when outcomes are uncertain.
That foundation now drives a data-first approach to digital asset markets — isolated risk on every position, hours instead of weeks in each trade, and a process that doesn't flinch when the market does. The track record speaks for itself: 33 of 36 positive months, a worst drawdown of −5.78%, and returns that beat both Bitcoin and the S&P 500.
“The market doesn't reward conviction. It rewards process.”
Five years U.S. Army. Over a decade of building businesses. One operating principle: provide value, and it always comes back.
Austin runs the partner side of the fund — capital formation, investor relationships, and the day-to-day decisions that keep a private fund honest. His path here ran through five years of military service and the founding of multiple operating companies in financial services and private equity, where he learned that long-term wealth is built on long-term trust, not transactions.
He brings the same standard to Paradigm: clear communication, no surprises, and a fiduciary mindset that treats every dollar of LP capital like it's his own family's money — because in many cases, it is. If you're investing with us, you're investing with him.
“Value given is value returned. Every time. That's the whole game.”
The bridge between performance and the people who depend on it.
Beau holds an Economics degree from the University of Houston and a Master's in Communications from Louisiana Baptist University — a combination that makes him uniquely effective at turning a complex strategy into a clear, honest conversation. His career has spanned entertainment and real estate, two industries where reputations are built one relationship at a time.
At Paradigm, he runs operations and investor education, ensuring every partner understands what we own, why we own it, and what to expect. A father of four and a serious golfer, he brings the patience of both pursuits to a job that requires plenty of it.
“Faith, family, friends, and fun — then the work serves all four.”
To request the Private Placement Memorandum and subscription documents.