Paradigm Raises $1.2B as Crypto VC Pushes Into AI and Robotics
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; the amount is 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, demonstrating the firm's expanded investment mandate beyond crypto.
- Managing partner Alana Palmedo said, "There's so much else happening right now that," emphasizing the firm will continue investing in crypto while expanding into AI and robotics.
- The firm will "continue to research and build where it accelerates the industry," developing 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.
Crypto VC Giant Paradigm Raises $1.2B, Plans to Bet Beyond Crypto
Key highlights:Paradigm is expanding its focus beyond crypto with a $1.2 billion fundingThe investment aims to help startups focusing on AI, robotics, and other new technologiesThe VC firm has reiterated its commitment to crypto and blockchainParadigm, a leading crypto-focused venture capital firm, is now expanding beyond digital assets. The platform has reportedly raised a staggering $1.2 billion fund to invest in emerging technologies. Even th…
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