Paradigm is expanding beyond its crypto roots after raising a new $1.2 billion fund to invest in artificial intelligence, robotics and other emerging technologies.
The move comes as AI dominates global venture funding and crypto markets continue to face weaker investor sentiment, though the firm said it would continue to invest in crypto companies.
The new fund, Paradigm’s third, has already backed startups such as Zipline and True Anomaly.
The firm also develops its own technologies, including AI tools and a prediction markets platform. Managing partners Matt Huang and Alana Palmedo said the firm views AI as the next major technological shift, while also seeing the growing overlap between AI and blockchain, namely through autonomous AI agents using crypto infrastructure.
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