Announcing Our Fourth Fund

Paradigm has raised our fourth fund: $1.2B to back the most ambitious builders at the frontier of technology. We started Paradigm in 2018 with a simple belief: to invest at the frontier, you have to live on it. Our approach is to stay close to the metal – researching, building, and investing alongside founders, first in crypto, and now across AI, robotics, and other frontiers. We back founders at every stage, including in teams pushing the bounds of autonomous drone delivery (Zipline), reimagining rapid manufacturing (SendCutSend), advancing orbital space defense (True Anomaly), and keeping AI open (Nous Research, makers of Hermes Agent). We continue investing in crypto and the reinvention of markets and the financial system, for example, in Hyperliquid, where an open ecosystem of builders like Trade[XYZ] enables new financial products; in Tempo, an incubation we co-founded with Stripe that’s building a stablecoin and agent-friendly blockchain; and in Kalshi, as they build the leading prediction markets exchange. We'll continue to research and build where it accelerates the industry, from blockchain tools (Foundry, Reth) to agent tools (Centaur) to security work (EVMbench, a collaboration with OpenAI). Sufficiently steep exponentials are indistinguishable from magic, and we see more global scale exponentials at work than ever before. This era favors those open-minded enough to throw out existing playbooks and recompute new views of reality frequently. It’s a mindset we share with the founders we back.   If you’re building something ambitious at the frontier, come build with us.