Paradigm, the venture firm co-founded by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang, has raised $1.2 billion for a fourth fund, marking its first formal expansion beyond cryptocurrency into artificial intelligence and robotics. The fund has already invested in Zipline International, valued at $7.6 billion, and space defense startup True Anomaly, valued at $2.2 billion. The raise is a 41% increase over Paradigm's $850 million 2024 fund but below its $2.5 billion 2021 vehicle. AI accounted for 70% of global startup funding in Q2 2026, while Bitcoin fell nearly 30% this year. Paradigm manages approximately $11.9 billion in assets.