Andreessen Horowitz announces launch of $ 1 billion cryptocurrency fund

Andreessen Horowitz (aka a16z), one of the biggest names in venture capital, is said to have raised between $ 800 million and $ 1 billion in capital for his latest cryptocurrency fund. The Attractiveness of the Third Time The company raised capital for two previous funds focused on cryptocurrency investments, including a $ 300 million startup fund in 2018 and a fund of about $ 500 million last year. . However, this report represents unprecedented financial magnitude for the company when it comes to a cryptocurrency fund. Andreessen Horowitz has been a notable investor on Coinbase several times over the past eight years, recently went public and is valued at around $ 60 billion. The company held Coinbase worth approximately $ 11 billion, based on its valuation at the time of the public offering. Related reading | Gold Improves Over 15% Against Bitcoin in Crypto "Hash Crash" Apart from Coinbase, Andreessen Horowitz has invested in many successful companies such as Facebook and Twitter and various different crypto projects such as Ripple and BitClout. Aleo, among others. How big is this really? As the first report of the Financial Times rightly points out, in the past few years a number of venture capital firms have raised significant capital for cryptocurrency funds, including Paradigm, Pantera, and Sequoia Capital China. Despite the recent increase in entries, Paradigm alone has reached the billion dollar level in terms of creating a private crypto fund, which makes the potential size of the Andreessen Horowitz fund particularly relevant. Paradigm is a crypto-focused investment firm located in Silicon Valley like Andreessen Horowitz. However, crypto investments continue to grow on a massive scale, be it venture capital or institutional investors. Just last month, Fidelity applied for a Bitcoin ETF with the SEC, and stock tokens from companies such as Apple, Microsoft and Tesla are increasingly entering the market.

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