Paradigm, the frontier technology investment firm best known for its large crypto funds, has raised its fourth fund: a $1.2 billion venture vehicle to invest in what it calls the “technical frontier,” spanning crypto, artificial intelligence, robotics and other emerging sectors. Co‑founder Matt Huang said that the capital is fuel to back “the most ambitious builders at the frontier of technology” at a time when markets are more cautious but institutional appetite for deep‑tech remains strong.

This is Paradigm’s third dedicated venture fund and fourth overall, following its $2.5 billion flagship crypto fund in 2021 and an $850 million early‑stage crypto fund announced in 2024. The new fund came in below the…