Cryptocurrency-focused venture capital firm Paradigm has raised a new $1.2 billion fund to expand investments into non-crypto sectors such as artificial intelligence (AI) and robotics. According to Bloomberg, Paradigm's decision to expand AI investments comes as investment in AI startups is booming, while crypto-related investments have slowed down. In this regard, Alana Palmedo, co-managing partner at Paradigm, said, "We are not stopping our investments in cryptocurrencies. Crypto was our first frontier and remains an exciting area. However, currently, many changes are being detected in other fields that are hard to ignore." Matt Huang, another co-managing partner, added, "Paradigm was not originally founded to invest solely in cryptocurrencies, but to invest in shifts in technological paradigms. Ten years ago, that was crypto, and now it's AI."
