Venture Capital

Venture Giant Andreessen Horowitz Triples Down On Crypto With New $2.2 Billion Fund


Today, Andreessen Horowitz (a16z), one of Silicon Valley’s most prominent venture capital firms, the first to launch a dedicated crypto unit and one of the earliest investors in Coinbase, is announcing a new $2.2 billion crypto fund. The vehicle is the third of its kind for the Menlo Park, California-based venture giant, which already manages $865 million across two earlier funds, and brings its total assets under management (AUM) dedicated to crypto above $3 billion.

In a joint statement announcing the raise, general partners Chris Dixon and Katie Haun noted, “This fund allows us to find the next generation of visionary crypto founders, and invest in the most exciting areas of crypto. We invest in all stages, from early seed-stage projects to fully developed later-stage networks.”

The timing and size of this round is notable for two reasons. First, it will allow a16z to continue participating in the later stage rounds of prominent crypto firms, which are becoming increasingly expensive. In 2021 alone, seven rounds completed by Bitso,, BlockFi, Circle, Dapper Labs, Ledger, and Solana Labs collectively raised over $2 billion. 


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