Paradigm Raises $1.2 Billion Fund as Crypto VC Pushes Further Into AI
Paradigm raised a $1.2 billion fourth fund to invest beyond crypto, expanding into AI, robotics, autonomous hardware, space, energy, and other frontier technologies while keeping crypto central. The San Francisco firm said it will continue its research-driven model, “staying close to the metal” by researching, building, and investing alongside founders. Founded in 2018 by Matt Huang and Coinbase co-founder Fred Ehrsam, Paradigm has been one of crypto’s largest venture investors, with a $2.5 billion crypto fund in 2021 and an $850 million blockchain fund in 2024. Its portfolio includes Zipline, True Anomaly, Nous Research, Hyperliquid, Kalshi, and Tempo, a stablecoin-focused blockchain it co-founded with Stripe. It also develops tools and projects such as Foundry, Reth, Centaur, and EVMbench. The fund launch aligns with growing efforts by crypto and payments firms to build infrastructure for AI agents that can transact online.
