Andreessen Horowitz Looks to Double Down on Crypto With New $450M Fund
Private U.S. VC firm, Andreessen Horowitz intends to form another crypto asset fund, shooting for $450 million in capital.
Private venture capital firm Andreessen Horowitz may have plans for another crypto asset fund.
Established by Marc Andreessen and Ben Horowitz over 10 years ago, the firm looks to start its second crypto investment fund, hoping to garner $450 million in capital for the endeavor, Financial Times said in an April 14 article, citing sources familiar with the situation.
The firm is known in crypto
Also going by the name a16z, Andreessen Horowitz provides tech companies and visionaries with funding. The outfit has three funds used for investment in startups and the like, including the $350M Crypto Fund.
Andreessen Horowitz made headlines in 2018 when it raised $300 million for the crypto-specific fund.
A part of Facebook’s Libra Association, the firm is also involved in that project’s funding, the Financial Times article noted.
The fresh fund is not finalized
The public is unaware of the new crypto fund’s size, although Andreessen Horowitz may release further details over the next week or so, the Financial times wrote.
As the world currently awaits further direction from leaders on forward proceedings regarding coronavirus measures, markets across the board have rebounded somewhat. Tech investors, however, are proceeding with caution given the circumstances, the article said.
Back in December, a16z announced its free crypto startup school, shining a light on the industry.
Cointelegraph reached out to Andreessen Horowitz for additional details, but received no response as of press time. This article will be updated accordingly should a response come in.