Paradigm has raised about $1.2 billion for its fourth fund, below both its 2021 $2.5 billion crypto vehicle and the $1.5 billion target reported earlier this year, while broadening its mandate beyond digital assets to AI, robotics, space, energy and other frontier or deep-tech areas. The move comes amid a wider shift among crypto-native venture firms seeking exposure to faster-growing adjacent sectors. Bloomberg reported that Framework Ventures has closed a $400 million fund and Haun Ventures has raised $1 billion, adding to signs that crypto-focused investors are expanding their remit. Even as fundraising continues, deal activity has cooled: Galaxy Research said crypto venture capital deployed about $4 billion across 355 deals in the first quarter of 2026, down about 50% from the previous quarter.