Andreessen Horowitz is aiming to raise $4.5 billion for new cryptocurrency funds
Amid a surge in VC investment in digital assets, Andreessen Horowitz wants to raise $4.5 billion for two new crypto funds.
Andreessen Horowitz’s venture capital firm unveiled plans to raise $3.5 billion for its second cryptocurrency venture fund. It is also framing up to $1 billion for a separate fund focusing on seed investments in digital asset start-ups. Horowitz is in concrete plans to close the funds by March.
Leading VC firms and crypto start-ups are pouring money into the digital asset field despite the present bear market.
According to new research from Galaxy Digital, investment in Web 3.0 start-ups skyrocketed to $33 billion in 2021, more than all prior years combined. The trend shows no indications of slowing down in 2022.
According to PitchBook data, investment in crypto start-ups soared to $31.6 billion in 2021, over sevenfold higher than 2020.
The bullish trend is supposed to continue in 2022.
Crypto.com told TechCrunch earlier this week that its venture financing arm would grow from $200 million to $500 million. Following in the footsteps of competitor trading platforms Coinbase and Binance, crypto exchange FTX announced the formation of a $2 billion venture capital arm to invest in crypto firms last week.
Andreessen Horowitz is a notable venture capital firm in Silicon Valley. He is already an investor in Facebook, Twitter, Airbnb, Stripe, and Coinbase. If the campaign is successful, the funds raised might be used to establish the world’s largest crypto venture capital fund.
All about Andreessen Horowitz
Andreessen Horowitz (also known as “a16z”) is a venture capital firm based in Silicon Valley, California, that backs ambitious entrepreneurs inventing the future through technology. It was founded in 2009 by Marc Andreessen and Ben Horowitz. We invest in seed to late-stage technology startups in various industries, including consumer, enterprise, bio+healthcare, crypto, and fintech. a16z manages $28.2 billion in assets across several funds, including the $2.9 billion Bio fund, the $3.1 billion Crypto fund, and the Cultural Leadership Fund.
We understand what it’s like to be in the shoes of an entrepreneur and the entrepreneurial company-building process, which is why a16z is defined by respect for the entrepreneur and the entrepreneurial company-building process. General partners lead the firm with knowledge from biology to crypto to distributed systems to security, marketplaces, and financial services. Many are former founders/operators, CEOs, or CTOs of successful technological firms.
Entrepreneurs, investors, executives, engineers, academics, industry experts, and anyone in the IT ecosystem are welcome to join us. We’ve assembled a team of specialists, including technical and executive expertise, top media, and marketing resources, Fortune 500/Global 2000 firms, and other technology decision-makers, influencers, and key opinion leaders. Our operating teams give entrepreneurs access to skills and insights throughout the whole spectrum of company growth as part of a16z’s commitment to helping our portfolio firms expand their businesses.