Paradigm has raised $1.2 billion for a new venture fund, giving one of crypto’s most prominent investment firms fresh capital as it expands into artificial intelligence, robotics and other frontier technologies.

The fund marks a wider mandate for the San Francisco-based firm, which built its reputation backing crypto companies and protocols. Paradigm will continue investing in digital assets, but the latest pool will also target opportunities outside the sector as AI and robotics draw a larger share of venture capital.

Paradigm now describes itself as a frontier technology investment firm that builds and invests across crypto, AI and…