US-based venture capital firm Andreessen Horowitz, or a16z, is seeking to raise a whopping $4.5 billion for two new crypto funds, the Financial Times Thursday.
Of the two new funds, $3.5 billion will be allocated to its crypto venture fund, making it the largest sum ever raised for strategic crypto investments. The remaining $1 billion will be dedicated to seed investments in crypto and Web 3.0 startups.
Andreessen Horowitz previously raised $2.2 billion in June for its third crypto venture fund, making its newest venture amount more than double it raised last June. Quoting data by PitchBook, the FT reported that investors infused nearly $32 billion in the crypto sector last year, almost seven times compared to 2020.
Such large-scale investments indicate a growing demand in the crypto space. A16z said in its :
“We find ourselves consistently surprised and excited by the wide variety of creative crypto ideas we encounter. For those of us who have been involved in software for a long time, it feels like the early days of the internet, web 2.0, or smartphones all over again.”
Currently, the VC firm has $30 billion in assets under management. Andreessen Horowitz has made more than 1,132 investments, including Skype, Facebook, Twitter, Coinbase, Airbnb, Stripe, Dapper Labs, dYdX, OpenSea, and more.
Andreessen Horowitz wants to collect $4.5B for new crypto investments appeared first on Our Bitcoin News.
