Paradigm Raises $1.2B to Expand into AI and Robotics

Crypto venture firm Paradigm has raised $1.2 billion for its fourth fund, which will expand the company’s investments into artificial intelligence and related technologies. Paradigm has raised more than $4 billion for three funds focused on crypto since its launch in 2018. The company’s interest in AI follows a trend of originally crypto-focused companies that have been lured to the lucrative and fast-growing sector. Paradigm’s management reportedly decided to broaden its investments as it didn’t want to be restricted and miss out on attractive deals. There was also a noted overlap between crypto and AI, such as with AI agents. Crypto exchanges such as Crypto.com and Coinbase have made big bets on AI agents, offering the technology to their users and updating their platforms to cater to the bots.