Summary
- Paradigm has raised a $1.2 billion venture fund focused on artificial intelligence and robotics while continuing to invest in crypto.
- The fund has already backed drone delivery company Zipline and space defense startup True Anomaly, as reported by Bloomberg.
- The new vehicle expands Paradigm’s investment strategy beyond digital assets after previously raising dedicated crypto funds in 2021 and 2024.
Paradigm has raised $1.2 billion for a new venture fund focused on artificial intelligence and robotics, as reported by a Wednesday report from Bloomberg.
The firm’s third venture fund reflects growing interest in AI and defense technology, though it does not signal an exit from digital assets.
“Crypto was the first frontier for us, and it continues to be a really exciting one, but there’s so much else happening right now that’s pretty hard to ignore,” managing partner Alana Palmedo told Bloomberg.
Paradigm has already deployed capital from the new fund into several companies, Bloomberg reported. Those include autonomous drone delivery company Zipline International, which was valued at $7.6 billion in January, and space defense startup True Anomaly, which reached a $2.2 billion valuation in April.
Founded in 2018 by Matt Huang and Coinbase co-founder Fred Ehrsam, Paradigm built its reputation as one of crypto’s largest venture investors. The firm introduced a $2.5 billion flagship crypto fund in November 2021, then the largest dedicated crypto fund, before raising an $850 million fund for early-stage blockchain startups in 2024.
