According to a report from UK newspaper Financial Times, A16z, a VC firm with investments in Protocol Labs, Polychain Capital and OpenC, is now planning to raise $4.5 billion for its latest fund, which is focused entirely on cryptocurrencies. Is.
Last week, Andreessen Horowitz’s venture capital firm reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for a Web3 seed investment, with plans to be announced in March . The firm is set to assume the $2.2 billion it raised in June 2021, the largest in the crypto industry at the time.
The first fund will be used to invest in crypto start-ups and projects seeking investment for the initiative, while the second fund will focus on investing in digital tokens and currencies.
Andreessen Horowitz, with nearly $30 billion in assets under management, is one of Silicon Valley’s top venture capital companies. The venture fund was one of the first major investors in companies such as Skype, Facebook, Twitter and Coinbase. If a16z succeeds in attracting investors to raise $4.5 billion, it will be the industry’s largest, surpassing the paradigm’s $2.5 billion in November 2021.
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A16z has backed several crypto-friendly gaming platforms, most recently Carry1st, the firm’s first investment in a startup on the African continent. In October 2021, a high-powered delegation from the VC firm worked with members of Congress and administration officials in the US to discuss crypto regulations.
