Venture capital firm Paradigm is planning to raise up to $1.5 billion for a new fund that will broaden its investment scope to include artificial intelligence and robotics. This strategic shift moves the firm beyond its established focus on digital assets and web3 infrastructure.
Founded by former Sequoia partner Matt Huang and Coinbase co-founder Fred Ehrsam, Paradigm has overseen $12.6 billion in assets. The firm previously launched successful funds in 2021 and 2024, backing notable projects in the blockchain space.
The move aligns with a surge in investment in AI and robotics, driven by the increasing deployment of autonomous systems and machine learning in enterprise automation. Paradigm has already made investments in AI, including a $50 million stake in Nous Research and a partnership with OpenAI to develop AI evaluation tools for blockchain applications.