2 years ago
Last week, A16z reportedly said it would rise $3.5 cardinal for its VC fund, arsenic good arsenic different $1 cardinal for web3 effect investments.
A16z, a VC institution with investments successful Protocol Labs, Polychain Capital and Opensea among others, is present readying to rise $4.5 cardinal for its latest money which is focused solely connected cryptocurrencies, according to a report by U.K paper Financial Times.
Last week, Andreessen Horowitz’ task superior steadfast reportedly said it would rise $3.5 cardinal for its VC fund, arsenic good arsenic different $1 cardinal for web3 effect investments, with the plans to beryllium announced successful March. The steadfast is acceptable to eclipse the $2.2 cardinal it raised in June 2021, which was astatine the clip the crypto industry's largest.
The archetypal money volition beryllium utilized for concern successful crypto start-ups and projects that are seeking concern for initiatives, portion the 2nd money volition beryllium focused connected investing successful integer tokens and currencies.
Andreessen Horowitz, with astir $30 cardinal successful assets nether management, is 1 of Silicon Valley's apical task superior companies. The task money was 1 of the archetypal large investors successful companies similar Skype, Facebook, Twitter, and Coinbase. If a16z is palmy successful attracting investors to rise $4.5 billion, it would go the industry's largest, surpassing Paradigm's $2.5 billion successful Nov. 2021.
Related: OpenSea raises $300M for encrypted integer marketplace
A16z has backed a fig of crypto-friendly gaming platforms, astir precocious Carry1st, which is the firm's archetypal concern successful a startup connected the African continent. In Oct. 2021, a high-powered delegation from the VC steadfast engaged with members of Congress and medication officials successful the U.S to sermon crypto rules.
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