Paradigm raises $1.2 billion fund for AI and robotics

Prominent venture capital firm Paradigm has raised $1.2 billion for a new fund, marking its first major strategic expansion beyond its cryptocurrency roots to invest in artificial intelligence and robotics. The firm announced the fund on Wednesday, July 8, 2026, framing the move as a broadening of its focus to include frontier technologies while maintaining its commitment to the crypto sector.

The new vehicle is Paradigm's third venture fund and fourth overall. It follows a $2.5 billion fund raised in 2021 and an $850 million fund in 2024. The firm, which manages approximately $12 billion in assets, had reportedly been seeking up to $1.5 billion earlier this year. Paradigm's leadership emphasized that the fund represents an evolution, not a departure, from its original mission. Managing partner Alana Palmedo stated that while crypto remains an exciting frontier, the developments in other fields are currently too significant to ignore.

The firm has already begun deploying capital from the new fund. Investments include a participation in a Series H round for autonomous drone delivery company Zipline in March 2026 and a Series D round for space defense startup True Anomaly in April...