a16z Seeks Record-Breaking $4.5B for Crypto Funds

a16z Seeks Record-Breaking $4.5B for Crypto Funds

THELOGICALINDIAN - The 45 billion armamentarium would about bifold the antecedent crypto armamentarium almanac

Andreessen Horowitz (a16z) has appear affairs to accession $4.5 billion for its cryptocurrency funds. The close affairs to agree the allotment by March. 

a16z Seeks to Set New Record

Prolific adventure close Andreessen Horowitz is looking to accession a record-breaking $4.5 billion for its cryptocurrency funds.

According to the Financial Times, the close told investors aftermost anniversary that it approved to accession $3.5 billion for its best contempo cryptocurrency adventure armamentarium and addition $1 billion for a new, audible armamentarium that would accent berry investments in crypto assets startups. The firm’s plan is to defended the allotment by March.

Silicon Valley-based Andreessen Horowitz invests primarily in technology companies, including investments in biotech, fintech, and cryptocurrency. Its notable aboriginal investments accommodate Facebook, Airbnb, Twitter, Coinbase, and Stripe. The close has invested in dozens of above cryptocurrency projects, including as Solana Labs, OpenSea, Near, and UniSwap. 

If a16z can auspiciously defended $4.5 billion in funding, it would be the better cryptocurrency armamentarium of all time, before the previous record set by Paradigm’s $2.5 billion Paradigm One armamentarium aftermost November. Only last week, cryptocurrency barter FTX fell abbreviate of breaking Paradigm’s crypto armamentarium almanac with the barrage of its $2 billion FTX Ventures. 

Furthermore, Andreessen Horowitz’s new $1 billion crypto berry advance armamentarium would bifold the agenda assets industry’s antecedent almanac for a armamentarium of that sort. 

The admeasurement of this abstract fund, while record-setting, would not be unthinkable, accustomed the huge amounts of basic that accept flowed into the amplitude over the aftermost year. In 2021, VC firms raised $10.7 billion for cryptocurrency-focused funds, and altogether investors put over $31 billion into crypto startups aftermost year.

Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and several added cryptocurrencies.