THELOGICALINDIAN - Supply chains accept arena to a arrest and dozens of millions are unemployed but this hasnt chock-full crypto from accepting a big axiological addition one of Silicon Valleys best admired adventure basic firms aloof aloft bisected a billion dollars to advance in industry startups
Top Venture Capital Firm Raises $0.5B Crypto Fund
Announced by Katie Haun and Chris Dixon, Andreessen Horowitz (a16z) — a VC close accepted for its investments in Twitter, Slack, Lime, Instagram, and abounding added big companies — aloof accomplished fundraising for “Crypto Armamentarium II,” a new “$515 actor armamentarium that will be acclimated to advance in networks and businesses.”
Haun and Dixon will be the ally arch this fund. According to them, they will be absorption on bristles capital categories of investments in the cryptocurrency space:
Vance Spencer, a co-founder of thesis-driven crypto armamentarium Framework Ventures, said that this new $515 actor armamentarium could be actual important to this industry affective forward.
“I see this as a recapitalization of the early-stage crypto arena both from a banking and angary standpoint With crypto projects starting to appearance absolute traction, I am aflame to see a later-stage allotment ecosystem starting to booty appearance to abutment our industry,” Spencer said, summarizing the signifiance of this fund.
The accession comes as crypto allotment has slowed bottomward at a affecting pace. Data aggregate by Rob “Crypto Bobby” Paone, architect of Proof of Talent, indicates that the cardinal of crypto allotment deals that took abode in Q1 of 2024 was a bald 79 — far beneath the 220 in Q1 of 2024 or 230 in Q1 of 2024.
Ethereum Could Be the Biggest Beneficiary
Andrew Kang, a adventure investor, explained that Ethereum could be one of the better beneficiaries of this new fund. The broker interpreted a16z’s affirmation that it will be advance heavily in “next-generation payment” projects as a assurance that they will be “investing in ETH, the stablecoin adjustment layer.”
A16Z is advance in acquittal blockchains
AKA
A16Z is advance in $ETH, the stablecoin adjustment band https://t.co/JfQGEkeFtq pic.twitter.com/xDIkbNy40v
— Andrew Kang (@Rewkang) May 1, 2020
Considering a16z’s antecedent armamentarium ambidextrous with blockchain, Kang is acceptable actual in authoritative this statement.
Although Crypto Fund I made investments into boilerplate projects like Coinbase, Libra, Polychain Capital, and Dfinity, a big focus of that portfolio was acutely Ethereum, stablecoins, and decentralized finance.
The adventure basic firm’s Ethereum wallet, for instance, holds $19 actor account of ERC tokens like MakerDAO’s MKR and Synthetix, while the armamentarium fabricated absolute investments into Ethereum projects like Compound, dYdX, and TrustToken.
Should a16z’s Crypto Fund II chase a agnate format, endless projects based on Ethereum and potentially Ether itself could account abundantly already investments alpha rolling.
