Andreessen Horowitz Eyes USD 4.5B For New Crypto Funds

 

As one other signal of enterprise capital cash more and more fueling the cryptosphere’s disruption of legacy finance, US enterprise capital agency Andreessen Horowitz (a16z) has unveiled plans to lift as much as USD 4.5bn to launch new crypto-focused funds — doubtlessly greater than doubling the quantity it raised lower than one yr in the past.

Final week, the VC agency advised traders it was decided to lift as much as USD 3.5bn for its newest crypto enterprise fund, and as much as USD 1bn for a separate fund that might concentrate on seed investments in digital asset start-ups, reported The Monetary Instances, citing “individuals briefed on the discussions”. 

Andreessen Horowitz goals to finalize the brand new funds by March, one of many individuals mentioned. The US firm didn’t present a remark.

The newest improvement comes shortly after the enterprise capital powerhouse disclosed it raised USD 9bn for its Enterprise, Progress, and Bio funds, enabling a16z to speculate “throughout the complete spectrum of levels, writing checks as small as USD 25,000 and as much as lots of of tens of millions of {dollars}.” That growth introduced the agency’s property beneath administration to greater than USD 28bn.

The Silicon Valley-based enterprise has a monitor file of backing profitable ventures, because it was an early investor in plenty of  main tech corporations. These embrace Fb, Twitter, Airbnb, Stripe, and main crypto trade Coinbase, amongst others.

Information launched by monetary information and software program firm PitchBook in December indicated that, breaking all earlier information, enterprise capital corporations had invested some USD 30bn into crypto final yr yr — exceeding virtually fourfold the quantity recorded within the earlier file yr of 2018. As a matter of reality, the quantity VC funds injected into the trade in 2021 exceeded all of the earlier years mixed, based on the corporate.

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Be taught extra:

– Crypto Funding Developments in 2022: Brace for Extra Establishments and Meme Manias
– Crypto Adoption in 2022: What to Count on?

– Andreessen Horowitz Secures USD 9B Warfare Chest for New Investments
–  a16z Lays out Regulatory Proposal as SEC Chief Focuses On Shopper Safety

– Throughout April BTC Peak, 61% of Surveyed Monetary Establishments Mentioned Crypto Entry ‘Extraordinarily’ Vital
– Rising Quantity Of Buyers Promote Shares, Bonds To Purchase Crypto – Survey