Andreessen Horowitz (a16z) will launch an investment fund of $4.5 billion for startups linked to crypto and blockchainthe company announced this Wednesday (25).
The company is betting on looking for new opportunities despite the current slump in the crypto market.
Andreessen Horowitz said $1.5 billion from the fund will go towards investments in seed rounds (to drive growth), while $3 billion will go towards venture investments.
The fund, named “Crypto Fund 4”, was in the process of creation for some time, since Financial Times mentioned, in January of this year, that a16z planned to launch a new fund.
The general partner of Andreessen HorowitzArianna Simpson, said in an interview with CNBCthat “falling markets are usually when the best opportunities arise, when people can actually focus on developing technologyrather than being distracted by short-term pricing activities.
Andreessen Horowitz expands its role in the crypto world
Based in Silicon Valley, California, the venture capitalist already has three funds targeting the crypto industry, the first launched four years ago.
Previously known for her investments in Instagram and Slack, Andreessen Horowitz entered the crypto space for the first time by investing in the cryptocurrency exchange Coinbase (COIN)in 2013.
Since then, a16z invested in several segments of the crypto world, including Avalanche (AVAX), Solana (SOL)the OpenSea NFTs marketplace and creator of Bored Ape Yacht Club (BAYC)Yuga Labs.
The new fund $4.5 billion brings company total dedicated to crypto and blockchain to over $7.6 billion.
Last week, Andreessen Horowitz invested in Flowcarbon, by Adam Neumann, which aims to reduce environmental problems, through tools created in blockchain, for trading carbon credits.
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
