Paradigm, the crypto-focused venture capital firm co-founded by Matt Huang, announced it raised $1.2 billion for its fourth fund. The fund will invest in crypto, artificial intelligence, and robotics, marking an expansion of the firm’s initial mandate that was previously focused solely on digital assets. The firm has also built developer tools such as the Foundry testing framework and the Reth Ethereum client. The new fund will allow Paradigm to deploy capital across this ecosystem as well as AI and robotics startups. Several crypto-native venture capitalists are increasingly pursuing compute and machine learning infrastructure deals.
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