Crypto VC Paradigm Launches $1.2 Billion AI Fund as It Broadens Beyond Digital Assets
Paradigm will keep backing crypto while adding AI and robotics investments after raising $1.2 billion, Bloomberg reported.
- On Wednesday, Paradigm raised $1.2 billion for a new venture fund focused on artificial intelligence and robotics, according to Bloomberg, slightly less than the $1.5 billion the firm sought to raise.
- Founded in 2018 by former Sequoia partner Matt Huang and Coinbase co-founder Fred Ehrsam, the firm filed to raise the fund earlier this year according to SEC filings.
- Paradigm's Fund III has already deployed capital into drone delivery company Zipline and space startup True Anomaly, signaling early execution of the expanded investment strategy.
- Managing partner Alana Palmedo said, "There's so much else happening right now that," emphasizing the firm will not abandon crypto despite expanding into AI and robotics.
- The firm will "continue to research and build where it accelerates the industry," investing in blockchain tools Foundry and Reth, agent tools like Centaur, and security work with OpenAI.
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Cryptocurrency News | Cryptocurrency Prices | Market CapCrypto VC firm Paradigm raises $1.2B to invest in ‘technical frontier’ startups
Crypto VC firm Paradigm has raised $1.2 billion — its third venture fund and fourth overall — with the aim of investing in the “technical frontier,” the firm’s founder Matt Huang announced Wednesday. For Paradigm, the technical frontier will stretch beyond its cryptocurrency investment roots. This fund is expected to expand its investment focus to include robotics and AI. That’s not a surprising move given how hot the AI market has become over t…
Crypto-Focused VC Firm Paradigm Raises $1.2 Billion for AI Bets
Paradigm, the venture firm founded to invest in cryptocurrency companies, has raised a new $1.2 billion fund to make more bets outside of the sector, including artificial intelligence and robotics.
Paradigm Targets AI And Robotics With $1.2B Fourth Fund
Paradigm has closed a $1.2 billion fourth fund, expanding its investment focus beyond crypto into AI, robotics, and other frontier technologies. While broadening its strategy, the venture firm says it will continue backing blockchain startups, open-source research, and digital asset infrastructure.
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