2 years ago
Andreessen Horowitz, (a16z), 1 of the ascendant forces successful the task superior industry, is readying to put $500 cardinal successful the country’s increasing startup ecosystem according to a report from TechCrunch citing radical acquainted with the matter.
India, with its large, web-savvy population, has seen a surge successful involvement from investors successful its startups.
VCs invested $23.5 cardinal successful Indian startups successful 2021, according to PitchBook data, creating 17 unicorns (companies valued astatine $1 cardinal oregon more) successful the process.
Of this $23.5 billion, $587.16 cardinal was allocated to crypto and Web 3 companies according to reports.
Andreessen Horowitz's first concern successful India was successful section crypto speech CoinSwitch Kuber, wherever it led a circular that closed successful October 2021 which saw the speech rise $260 cardinal astatine a $1.9 cardinal valuation.
A16z isn’t commenting connected the report, but co-founder and wide spouse Marc Andreessen has successful the past talked astir however “tempting” India and different emerging markets are for concern opportunities.
Chinese crypto task superior steadfast Sino Global Capital, led by Matthew Graham, has besides made a large propulsion into India arsenic portion of its caller $200 cardinal fund, which it announced past October.
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