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Paradigm has raised its fourth fund, a $1.2 billion pool that will invest across crypto, AI, robotics, and other frontier technology startups, marking the firm's formal expansion beyond digital assets.
What's the Scoop?
- Beyond Crypto: Paradigm said it will continue backing crypto companies while expanding into AI, robotics, and other frontier technologies. Its existing non-crypto bets include drone delivery company Zipline, manufacturing platform SendCutSend, space defense startup True Anomaly, and AI research company Nous Research. Its crypto portfolio includes Hyperliquid, Tempo, and Kalshi.
- Open-Source Focus: The firm also said it will keep funding open-source research. In crypto, that includes developer tools like Foundry and Reth. In AI, it has backed projects including Centaur, an agent tool, and EVMbench, a smart contract security research effort with OpenAI.
- The Bigger Picture: Paradigm is part of a broader shift among crypto venture firms moving into adjacent sectors. Framework Ventures' $400 million fourth fund and Haun Ventures' $1 billion fund also added areas like AI and robotics to their scope.
- About Paradigm: Founded in 2018 by former Sequoia Capital partner Matt Huang and
Coinbase co-founder Fred Ehrsam, Paradigm is one of the largest crypto VCs. It managed nearly $12 billion in assets at the end of 2025, including university endowments, as the Block reports.
