Andreessen Horowitz founds $ 1 billion crypto venture Capital Fund

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Andreessen Horowitz plans to launch a $ 1 billion fund for venture capitalists to expand the venture capital firm’s crypto presence

Andreessen Horowitz, also known as a16z, is one of the leading venture capital companies in the crypto area. She has invested in several crypto projects in recent years and now wants to expand her presence in the industry.

According to a report by Financial Times the company is working on raising $ 1 billion to launch another venture capital fund. This fund will focus on cryptocurrencies and invest in unique projects in this sector.

“The new fund, Andreessen’s third, focuses on investing in cryptocurrencies and aims to raise between $ 800 million and $ 1 billion from investors, according to four people familiar with the process“, reported the FT.

If successful, the funding round will surpass the $ 515 million that Andreessen Horowitz recently raised for crypto investments. Andreessen Horowitz wants to invest in further crypto projects due to the rapid growth of the industry in recent months. The crypto and blockchain sector has seen rapid development over the past year as several companies, fintechs and banks accept cryptocurrencies in different ways.

The venture capital firm has invested in several projects in recent years, with Coinbase being one of its most successful investments. Andreessen Horowitz is one of the leading investors in the US crypto exchange. The company currently holds over $ 10 billion worth of Coinbase shares, although it sold $ 449 million worth of shares last month.

Andreessen Horowitz was founded in 2009 by Marc Andreessen and Ben Horowitz and has a fortune of over 16 billion US dollars. Marc Andreessen is the lead developer of Coinbase and one of the company’s directors. The venture capital company invests in Start-ups and established growth companies.