Andreessen Horowitz Has Launched a $300M Crypto Fund

Andreessen Horowitz has launched a $300 million crypto fund devoted to investing in cryptocurrencies and different blockchain-related initiatives.The fund, named a16z crypto, alerts that the agency is diving deeper into the cryptocurrency area to develop its current portfolio, which incorporates digital forex change Coinbase.In an announcement posted on the corporate’s weblog, normal accomplice Chris Dixon states that the a16z crypto fund supplies the agency with the pliability to spend money on any space of its selecting from conventional equities to digital tokens. In consequence, the agency will have the ability to spend money on each firms and the tokens these firms create.Emphasizing how bullish the agency is on the crypto business, Dixon writes that the fund will not be deterred by market situations, and it’ll finally concentrate on crypto-powered companies with “sensible use circumstances” that might finally be utilized by “tons of of hundreds of thousands.” Dixon went on to iterate that Andreessen Horowitz structured the brand new fund to carry “investments for 10+ years.”“We now have an ‘all climate’ fund. We plan to take a position constantly over time, no matter market situations,” he explains. “If there’s one other ‘crypto winter,’ we’ll maintain investing aggressively.”The agency additionally revealed that the fund would spend money on firms at any stage and in any location, the investments starting from blockchain-related initiatives to preliminary coin choices. These investments will provide extra than simply capital injection into cryptocurrency firms. Any firms Andreessen Horowitz invests in may even have entry to “operational help,” which is able to purportedly assist them to scale their companies sooner.The fund’s operations shall be overseen by a gaggle of normal managers, together with Chris Dixon and former federal prosecutor Katie Haun, who joins the agency as its first feminine normal accomplice.Haun acquired her first style for cryptocurrency throughout the investigation and conviction of two federal brokers concerned with the Silk Highway and the Mt. Gox change hack. She additionally sits on the board of Coinbase the place she chairs the corporate’s audit and danger committees.VC companies have lengthy averted cryptocurrency companies as a consequence of regulatory uncertainty. However as U.S. officers provide extra readability to this finish, VC companies resembling Union Sq. Ventures and Sequoia Capital have been making investments within the area.

This text initially appeared on Bitcoin Journal.

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