Andreessen Horowitz, the Silicon Valley enterprise capital agency based by Marc Andreessen and Ben Horowitz, has introduced the launch of a $2.2 billion crypto fund. The agency is “radically optimistic about crypto’s potential to revive belief and allow new sorts of governance.”
Andreessen Horowitz Launches $2.2 Billion Crypto Fund
Andreessen Horowitz introduced the launch of a brand new $2.2 billion crypto enterprise fund Thursday. The Silicon Valley enterprise capital agency, also referred to as “a16z,” was based by Marc Andreessen and Ben Horowitz in 2009.
Chris Dixon, Katie Haun, and Ali Yahya, companions on the crypto crew at Andreessen Horowitz, defined the brand new fund in a weblog publish titled “Crypto Fund III.” They wrote:
The scale of this fund speaks to the scale of the chance earlier than us: crypto just isn’t solely the way forward for finance however, as with the web within the early days, is poised to rework all features of our lives.
“This fund permits us to seek out the subsequent technology of visionary crypto founders, and put money into probably the most thrilling areas of crypto,” the a16z companions defined. “We put money into all levels, from early seed-stage initiatives to totally developed later-stage networks.”
Haun informed CNBC Thursday that the fund just isn’t a hedge fund however a enterprise fund. She clarified that the fund invests in tokens and protocols in addition to companies.
The corporate’s first crypto-focused fund was launched three years in the past throughout a crypto winter when the worth of bitcoin plunged roughly 80% from its 2017 highs.
The companions additional detailed:
We consider that the subsequent wave of computing innovation will probably be pushed by crypto. We’re radically optimistic about crypto’s potential to revive belief and allow new sorts of governance the place communities collectively make vital choices about how networks evolve, what behaviors are permitted, and the way financial advantages are distributed.
“That’s why as we speak we’re happy to announce a brand new $2.2 billion fund to proceed investing in crypto networks and the founders and groups constructing on this house,” the companions emphasised.
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