Crypto venture capital firm Paradigm has raised its fourth fund, a $1.2 billion vehicle that will invest in crypto, AI, robotics, and other frontier technology startups and companies.
The news comes after an earlier report in February that said Paradigm was raising up to $1.5 billion for a new fund under a broader investment strategy. The latest is Paradigm's fourth overall fund and third venture fund, a Paradigm spokesperson told The Block.
The firm's original fund, launched in 2018, is an open-ended vehicle that invests in both public and private crypto companies, while its other three funds, including the new one, are venture-focused. Paradigm previously raised a $2.5 billion venture fund in 2021 and an $850 million venture fund in 2024.
Paradigm is the latest crypto venture firm to expand beyond digital assets. Several firms, including Framework Ventures and Haun Ventures, have recently broadened their investment mandates, as The Block reported recently. Investors have pointed to several reasons behind the trend, including a maturing crypto market, the rapid rise of AI and other technologies, larger funds seeking new opportunities and the growing overlap between blockchain and adjacent industries.
