• Paradigm has closed a $1.2 billion fourth fund to expand into artificial intelligence and robotics

• The firm now manages $11.9 billion in assets, up sharply from its $750 million debut fund in 2018

• It is already competing with generalist giants like Andreessen Horowitz and General Catalyst for the same AI deals

Paradigm built its name backing crypto’s earliest and riskiest deal. Now, it is putting $1.2 billion behind a different wager: that aArtificial Iintelligence (AI) and robotics are frontiers worth fighting generalist mega-funds for.

The crypto-focused venture firm has closed its fourth fund at $1.2 billion, according to a blog post from co-founder and managing partner Matt Huang and managing partner Alana…