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Andreessen Horowitz Aims to Launch $1 Billion Crypto Fund

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Fri, 04/30/2021 - 18:01
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Alex Dovbnya
Andreessen Horowitz is seeking to raise a whopping $1 billion for its new crypto fund
Andreessen Horowitz Aims to Launch $1 Billion Crypto Fund
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Andreessen Horowitz is preparing to make its biggest bet on crypto to date. 

According to a report by the Financial Times that cites people familiar with the matter, the Silicon Valley venture capital giant is preparing to launch a $1 billion cryptocurrency-focused fund, which will dwarf the size of its predecessor.

The firm raked in $515 million for its second cryptocurrency fund back in April 2020. Andreessen's first fund dedicated to crypto raised $300 million in 2018.

Related
Andreessen Horowitz Co-Leader Says Crypto Is About to ‘Bloom’

a16z is focused on investing both in unaffiliated cryptocurrencies like Bitcoin and some prominent crypto startups.

It owns an eye-popping $11 billion stake in leading cryptocurrency exchange Coinbase. It is also an early investor in distributed ledger technology provider Ripple.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.