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Large Venture Capital Firm Ready to Invest $900 Million in Cryptocurrency Industry

Fri, 01/07/2022 - 12:55
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Arman Shirinyan
Industry veteran is ready to attract more funds into digital assets industry
Large Venture Capital Firm Ready to Invest $900 Million in Cryptocurrency Industry
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The general partner of Andressen Horowitz, Katie Haun, has set a goal of raising at least $900 million for numerous cryptocurrency investment funds, which will be a loud debate for the new venture capital company, FT reports.

The $900 million will be divided among two different funds. The first fund will utilize $300 million for investing in cryptocurrency start-ups. Another part of the collected funds will be used for making investments in larger companies or digital assets that have already found their place on the market.

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Financial Times’ sources stated that the new funds are planning on setting high targets and hopes right from the start to satisfy the strong demand coming from both wealthy private investors and other funds. Additionally, Haun is planning to reach out to financial institutions starting next week.

The suggested fundraising overhaul will become an outlet for future funds inflows for early projects on the market. The number of crypto start-ups has increased gradually since the beginning of 2021 and still remains in the sight of venture capitalists and private investors who are willing to expose themselves to greater risk.

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Other capital funds, like Paradigm led by Matt Huang and Coinbase co-founder Fred Ehrsam, raised $2.5 billion for a cryptocurrency venture fund in November. The fundraising event has been called the largest crypto fund ever raised. Huang and Ehrsam's fund debuted five months after Andreessen's $2.2 billion digital assets fund.

While Haun's new establishment will not take first place as the largest fund in the industry, it will still be considered one of the largest crypto-related funds on the market. The new company will go by the name "KRH."

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.