Crypto
Home›Crypto›Market Structure›Paradigm raises $1.2 billion for AI and robotics ventu…
Paradigm raises $1.2 billion for AI and robotics venture fund
The new vehicle has already backed Zipline and True Anomaly, with reported valuations of $7.6 billion and $2.2 billion, respectively.
Crypto venture firm Paradigm has raised a $1.2 billion venture fund focused on artificial intelligence and robotics, the company said in a Wednesday blog post, while leadership emphasized it remains committed to crypto investing, according to CoinDesk.
Paradigm said it has started deploying capital from the new fund into companies including drone delivery firm Zipline International and space defense startup True Anomaly, with Zipline valued at $7.6 billion in January and True Anomaly reaching a $2.2 billion valuation in April, per CoinDesk.
The firm’s third venture fund reflects rising investor interest in AI and defense technology, but does not indicate an exit from digital assets, CoinDesk reported. Managing partner Alana Palmedo said crypto was the firm’s first focus but that other areas are now difficult to ignore, citing broader momentum across technology sectors.
CoinDesk added that Paradigm was founded in 2018 by Matt Huang and Coinbase co-founder Fred Ehrsam and previously raised multiple crypto-focused funds, including a $2.5 billion flagship in November 2021 and an $850 million vehicle for early-stage blockchain startups in 2024.