Crypto VC firm Paradigm has raised $1.2 billion — its third venture fund and fourth overall — with the aim of investing in the “technical frontier,” the firm’s founder Matt Huang announced Wednesday.

For Paradigm, the technical frontier will stretch beyond its cryptocurrency investment roots. This fund is expected to expand its investment focus to include robotics and AI. That’s not a surprising move given how hot the AI market has become over the past few years, while crypto has faced challenges.

Paradigm isn’t abandoning crypto altogether, according to a blog post written by Huang, and the firm’s managing partner Alana Palmedo. The firm will “continue investing in crypto and the reinvention of markets and…