Prolific Silicon Valley venture capital firm Andreessen Horowitz has announced that it is launching a crypto fund worth $300 million.
Founded in 2009 by Marc Andreessen and Ben Horowitz, Menlo Park-based a16z, as Andreessen Horowitz is also known, has a lot of successful investments under their belt. Prior to becoming the entity it is now, the two investors were already neck deep in the tech investment scene. Individually and as partners, the two investors placed their bets on startups like Twitter.
The company is no stranger to the cryptocurrency and blockchain space. Its board member and general partner Balaji Srinivasan is involved with Earn.com. It is also an investor in Coinbase and TrustToken (TrueUSD coin).
Now they’re looking to expand their reach even further with the whopping $300 million Andreessen Horowitz crypto fund – a16z crypto. General partner Chris Dixon made the announcement on the company website, showcasing the progress of technology and computing models starting from mainframes to smartphones to blockchain technology to Bitcoin.
He emphasizes the company’s belief in blockchain and cryptocurrency, hence the creation of the Andreessen Horowitz crypto fund, which will invest in “crypto companies and protocols”. The fund is aimed to adopt the solid practices of traditional venture capital investment into the new world of crypto.
Dixon states:
- We are long-term, patient investors.
- We have an “all weather” fund.
- We are flexible with respect to stage, asset type, and geography.
- We are focused on non-speculative use cases.
