Andreessen Horowitz Announces Launch of $1B Cryptocurrency Fund

8YFHfUFg 640x296 1

One of the biggest names in venture capital, Andreessen Horowitz (also known as a16z), is reportedly raising capital between $800M and $1B for their latest cryptocurrency fund. Third Time’s A Charm The firm has raised capital for two previous funds centered around cryptocurrency investments, including an initial $300M fund in 2018 and a roughly $500M fund just last year. However, this report represents unprecedented size financially for the company with regards to a cryptocurrency fund. Andreessen Horowitz was a notable investor in Coinbase at many different times throughout the past eight years as well, which recently went public and carries roughly a $60B valuation. The company reportedly held roughly $11B worth of Coinbase based on the valuation at the time of IPO. Coinbase aside, Andreessen Horowitz has invested in a multitude of successful companies, including Facebook and Twitter, as well as a variety of different crypto projects, such as Ripple,…

Read the original article here