Silicon Valley venture capital giant Andreessen Horowitz (a16z) plans to launch a new $1 billion fund focused on investments in cryptocurrencies and blockchain startups, several knowledgeable sources told Financial Times yesterday.
Per the report, the firm is looking to raise between $800 million and $1 billion from investors for the new fund, which will become the third a16z’s VC initiative focused specifically on cryptocurrencies.
Andreessen Horowitz plans $1bn cryptocurrency VC fund https://t.co/f7u7RdIMtO
— Financial Times (@FT) April 30, 2021
As CryptoSlate reported, the company launched its first, $300 million fund dedicated to cryptocurrency-related ventures back in 2018.
“We have an ‘all weather’ fund. We plan to invest consistently over time, regardless of market conditions. If there is another ‘crypto winter,’ we’ll keep investing aggressively,” said Chris Dixon, seed investor at Andreessen Horowitz, at the time.
Then, almost exactly a year ago, the company…
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