Paradigm has closed a $1.2 billion fourth fund to expand into artificial intelligence and robotics
The firm now manages $11.9 billion in assets, up sharply from its $750 million debut fund in 2018
It is already competing with generalist giants like Andreessen Horowitz and General Catalyst for the same AI deals
Paradigm built its name backing crypto’s earliest and riskiest deal. Now, it is putting $1.2 billion behind a different wager: that aArtificial Iintelligence (AI) and robotics are frontiers worth fighting generalist mega-funds for.
The crypto-focused venture firm has closed its fourth fund at $1.2 billion, according to a blog post from co-founder and managing partner Matt Huang and managing partner Alana Palmedo.
