Paradigm has raised a $1.2 billion fourth fund, giving the crypto-native investment firm a larger vehicle for bets across artificial intelligence, robotics, and other frontier technology sectors.

The firm described the fund as backing "the most ambitious builders at the frontier of technology" and said its work has expanded from crypto into AI, robotics, and related infrastructure. The post names existing or current portfolio examples including Zipline in autonomous drone delivery, SendCutSend in rapid manufacturing, True Anomaly in orbital space defense, and Nous Research, which builds the Hermes Agent open model family.

Paradigm is also positioning the new fund as an extension of, rather than a retreat from, crypto. Its announcement points to ongoing investments and incubations around market structure and financial systems, including Hyperliquid, Tempo, Kalshi, Foundry, Reth, Centaur, and EVMbench, a security benchmark collaboration with OpenAI.

That matters because Paradigm has been one of the larger specialist investors in crypto, previously known for dedicated blockchain funds. The new fund signals that major crypto venture firms are broadening their thesis as AI agents, robotics systems, stablecoin rails, and developer infrastructure begin to overlap.

The practical read is not that Paradigm has stopped being a crypto investor. It is that the firm now wants a mandate broad enough to follow founders where software, autonomous systems, and new financial rails converge.