According to the Financial Times, venture capital company Andreessen Horowitz (a16z) is launching a new fund to invest up to $1 billion in bitcoin and blockchain start-ups.
Via its conventional assets, the company achieved early growth by investing in Coinbase and Ripple.
In 2018, it launched a dedicated crypto fund, and by 2019, it had acquired a portfolio of crypto companies that would go on to become some of the most valuable in the space, as well as other early bets on tech companies including Skype, Facebook, Twitter, and Airbnb. Last year, A16z launched a second cryptocurrency fund.
a16z’s Crypto Fund
The venture, which will be a16z’s third and biggest crypto-focused fund, is expected to collect between $800 million and $1 billion. Aleo, a zero-knowledge private applications network, was recently acquired by the company.
If a16z raises the $1 billion, it would become one of the most well-funded crypto investment pools. Prior to this, Paradigm earned $1 billion for cryptocurrency investments.
According to a story in the Financial Times, venture capital company Andreessen Horowitz will open a new crypto fund.
It plans to invest between $800 million and $1 billion in cryptocurrency and cryptocurrency startups.
According to a story in the Financial Times, venture capital company Andreessen Horowitz is preparing to open a new crypto investment, riding high on the success of Coinbase’s direct listing.
It intends to collect $800 million to $1 billion for emerging cryptocurrency and blockchain startup investments. The firm’s most recent fund, which was revealed on this day last year, raised $515 million.
Andreessen Horowitz has been a guiding force behind several of the most well-known cryptocurrency ventures over the past decade, including Anchorage, Celo, Dapper Labs, Foundation, and Uniswap.
What is a16z?
Marc Andreessen and Ben Horowitz formed Andreessen Horowitz (also known as a16z, legal name AH Capital Management, LLC) in 2009 as a private American venture capital company. Menlo Park, California is the company’s headquarters.
Andreessen Horowitz is a venture capital firm that invests in both early-stage and proven development businesses. Mobile, gaming, internet, e-commerce, schooling, and business IT (including cloud storage, defense, and software as a service) are among the industries in which it invests.
Partners at Andreessen Horowitz operate on behalf of many of the firm’s portfolio firms, using the concept of the Hollywood talent agent Creative Artists Agency. Margit Wennmachers, a communications executive at the affiliate level, was recruited in 2010.
The company has a directory of programmers, coders, and executives that it utilizes to better fill jobs at its start-ups as of 2011. In June 2011, former US Treasury Secretary Larry Summers joined Andreessen Horowitz as a special advisor.
Former Washington, D.C. mayor Adrian Fenty was appointed Andreessen Horowitz’s second special advisor in September 2012. Fenty was retained by the company to counsel its portfolio firms about how to deal with the city, national, and federal governments.
The company filed to restructure as a licensed investment advisor in 2019 in order to provide more flexibility in taking on riskier bets like cryptocurrency.