Crypto investment firm Paradigm is seeking to raise $1.5 billion for a new fund targeting artificial intelligence, robotics, and other frontier technologies. The firm, which manages $12.7 billion in assets, will continue its crypto investments while using its existing team to evaluate deals in these new sectors. Paradigm co-founder Matt Huang previously stated that AI developments were “too interesting to ignore” and predicted significant overlap between AI and cryptocurrency fields.
Crypto investment firm Paradigm is seeking to raise $1.5 billion for a new fund that will invest in companies in AI, robotics and other frontier technologies. The information was reported by sources familiar with the situation.
Paradigm will continue to invest in crypto companies, according to those sources. The firm will use its existing technical investment team to look at deals in frontier tech companies.
San Francisco–based Paradigm has $12.7 billion in assets under management. This figure comes from the latest regulatory filings available.
Paradigm‘s Matt Huang previously said developments in AI were “too interesting to ignore.” He also stated that both AI and crypto will have plenty of overlap.
