THELOGICALINDIAN - A16z a arch VC aggregation in crypto is reportedly ramping up its investments in the acreage this year The aggregation is said to be attractive for 45 billion to advance in altered cryptocurrencyrelated funds This bulk added than doubles the absolute bulk the aggregation invested in crypto aftermost year
A16z to Double Down on Crypto
A16z will abide to put funds abaft cryptocurrency-related projects this year, according to reports. The VC company, which focuses its investments on tech-related companies and has added than $28 billion in assets, is seeking $4.5 billion dollars to advance in two altered crypto-related funds this year.
According to bodies abreast in the basic affairs to complete this fund, A16z will be gluttonous $3.5 billion to advance in a new cryptocurrency armamentarium and $1 billion to ability addition armamentarium directed for berry investments in early-stage startups.
The aggregation is reportedly aloof altered participants for abutment to access these funds, and A16z is said to be aiming for April as the ages to ability the goal. If the aggregation absolutely manages to accession the money, it would be one of the better funds in the history of the cryptocurrency scene. Aftermost year, A16z invested added than $2 billion in crypto startups. This initiative, if completed, would be added than bifold the bulk that the aggregation invested aftermost year.
Crypto Investments and Opposition
A16z has managed to get in some aboriginal investments in the cryptocurrency apple aftermost year. In August, the aggregation invested in an uncollateralized cryptocurrency-based lending belvedere alleged Truefi. That aforementioned month, it additionally invested in a play-to-earn brotherhood alleged Yield Brotherhood games, which identifies advance opportunities in blockchain games.
Later, in October, the aggregation led a allotment annular for Alchemy, one of the arch web3 basement providers. And in November, A16z additionally led the Series C advance annular of Mythical Games, a blockchain gaming company.
The absorption of A16z and added companies in crypto, metaverse, and web3-related projects has fabricated them a ambition of criticism in contempo times. Jack Dorsey, the above CEO of Twitter, has called out those who appetite to own the accepted booty on the metaverse through their investments in startups. Elon Musk additionally criticized the accompaniment of web3, advertence that it seemed added a boiler than a reality, but that he was aflame about what this movement ability accompany in the future.
What do you anticipate about the new funds a16z is aiming to barrage after this year? Tell us in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
