\n<\/p>\n
Crypto VC firm Paradigm has raised $1.2 billion \u2014 its third venture fund and fourth overall \u2014 with the aim of investing in the \u201ctechnical frontier,\u201d the firm\u2019s founder Matt Huang announced<\/a> Wednesday. <\/p>\n 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\u2019s not a surprising move given how hot the AI market has become over the past few years, while crypto has faced challenges.<\/p>\n Paradigm isn\u2019t abandoning crypto altogether, according to a blog post<\/a> written by Huang, and the firm\u2019s managing partner Alana Palmedo. The firm will \u201ccontinue investing in crypto and the reinvention of markets and the financial system\u201d and will \u201ccontinue to research and build where it accelerates the industry, from blockchain tools (Foundry, Reth) to agent tools (Centaur) to security work (EVMbench, a collaboration with OpenAI),\u201d the pair wrote. <\/p>\n But AI and robotics are also priorities. In an interview with Bloomberg<\/a>, Palmedo said \u201cthere\u2019s so much else happening right now that\u2019s pretty hard to ignore.\u201d<\/p>\n Paradigm\u2019s Fund III has already made some investments, including in drone delivery company <\/a>Zipline and space startup<\/a> True Anomaly.\u00a0<\/p>\n The firm, which was founded in 2018 by Huang, a former partner at Sequoia, and Fred Ehrsam, who co-founded the cryptocurrency exchange Coinbase, filed to raise the fund earlier this year, according to SEC filings<\/a>. The fund size is slightly less than the $1.5 billion <\/a>the Wall Street Journal reported in February the firm was seeking to raise.<\/p>\n<\/div>\n