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Andreessen Horowitz Establishes $4.5B Crypto Fund, Its Fourth
The Silicon Valley venture capital firm is doubling down on its crypto investments despite the market downturn.
Von Oliver Knight
Aktualisiert 11. Mai 2023, 5:36 p.m. Veröffentlicht 25. Mai 2022, 11:20 a.m. 1 min readÜbersetzt von KI
Andreessen Horowitz said Wednesday it formed a new $4.5 billion fund that will invest in cryptocurrency and Web 3 companies.
- The fund is the firm's fourth to target digital assets, with over $7.6 billion being raised in total.
- Of the $4.5 billion, $1.5 billion will go towards seed investments while the rest is being set aside for venture investments.
- "We think we are now entering the golden era of Web 3," the company said in its announcement, adding that it's "excited" about developments in blockchain gaming, decentralized finance (DeFi), decentralized social media and non-fungible tokens (NFT).
- Previous funds were raised last June and in April of 2020, both of which came shortly after crypto market downturns.
- Bitcoin is currently down 56% from a peak in November, while altcoins such as SOL and AVAX – to name just two – have shredded more than 80% in respective market caps.
See also: Andreessen Horowitz Rakes In $2.2B for Third Crypto Venture Fund
Update (May 25, 12:50 UTC): Adds details on the firm's interest in specific sectors and market information.
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