a16z, short for Andreessen Horowitz, is a Silicon Valley–based venture capital firm that backs technology companies from seed to late stage, including a significant focus on crypto and Web3. Founded in 2009 by Marc Andreessen and Ben Horowitz and headquartered in Menlo Park, California, the firm has grown into one of the most influential investors in global tech and digital assets, managing tens of billions of dollars in committed capital across multiple sector-focused funds.
Overview
a16z describes itself as a stage-agnostic technology investor backing “bold entrepreneurs building the future.” The firm invests across a wide range of verticals including consumer, enterprise, fintech, bio + healthcare, games, infrastructure, and crypto. Its platform model pairs capital with operational support in areas like talent, go-to-market, marketing, policy, and technical guidance, aiming to help portfolio companies scale from early product-market fit to global reach.
Within the crypto ecosystem, a16z is known for its dedicated crypto arm and its role as a repeat lead investor in infrastructure, DeFi, Web3 consumer apps, and developer tooling. CryptoSlate’s company profile highlights the firm’s broad mandate to invest from seed through growth stages in both traditional equity and token-based projects.
History and Background
Andreessen Horowitz was founded in 2009 and quickly became one of Silicon Valley’s best-known venture firms, reflecting the reputations of its co-founders: Marc Andreessen, co-creator of Netscape, and Ben Horowitz, a longtime technology executive and entrepreneur. The firm popularized a partner-heavy, services-rich model that mirrored talent agencies, bringing in specialists to help portfolio companies with recruiting, PR, sales, and policy.
Over the 2010s and early 2020s, a16z raised a series of increasingly large funds spanning general tech, bio, fintech, and crypto. By the mid-2020s, public disclosures and firm materials indicated more than $40–45 billion in committed capital across its various vehicles, cementing its role as a major capital allocator in both Silicon Valley and the broader startup ecosystem.
Crypto and Web3 Focus
a16z has been investing in crypto since the early 2010s and formalized this activity with the launch of “a16z crypto,” a dedicated crypto fund announced in 2018. The initial crypto vehicle was a $350 million fund focused on crypto companies and protocols, designed to combine traditional venture structures with the needs of token-based projects.
Since then, a16z crypto has expanded into multiple funds, including a large fourth fund announced in 2022 that brought total crypto-dedicated capital into the multi-billion-dollar range. The crypto arm invests across layers of the stack—L1 and L2 blockchains, developer infrastructure, DeFi, gaming, NFTs, privacy, and decentralized identity—as well as consumer-facing Web3 applications.
The firm also runs a crypto startup accelerator program, often described as a boot camp for early-stage founders. This program offers funding, mentorship, technical education, and policy guidance, culminating in a demo day where teams present to investors. CryptoSlate’s coverage notes that the accelerator is intended to help shift crypto from speculative trading toward real-world applications.
Technology and Investment Themes
a16z’s crypto thesis centers on the idea that blockchains and tokens can enable a more open, programmable internet. The firm has publicly emphasized themes such as:
- Decentralized infrastructure: Layer-1 and Layer-2 networks, data availability layers, and core infrastructure enabling higher throughput and lower costs.
- Financial primitives: Protocols powering lending, trading, derivatives, and stablecoins, often interacting with major assets like Bitcoin and Ethereum.
- Web3 consumer applications: Wallets, social platforms, gaming, and NFT-based experiences that bring crypto to mainstream users.
- Developer and data tooling: APIs, indexing services, security and auditing tools, and analytics platforms that support builders across networks.
Beyond crypto, the firm has increasingly focused on AI and high-performance computing infrastructure, raising dedicated AI-focused vehicles while continuing to run multi-sector tech funds.
Funding Scale, Structure, and Influence
a16z has raised capital from institutional limited partners around the world, including endowments, foundations, family offices, and sovereign investors. Its growing fund sizes and broad portfolio have made it one of the most closely watched players in venture capital and a major source of capital for crypto projects seeking large rounds or multi-stage support.
In parallel, the firm and its partners have become active in policy debates around crypto, AI, and broader technology regulation, backing industry associations and political initiatives that advocate for innovation-friendly frameworks.
Risks and Considerations
As with any large venture capital platform, participation in a16z-backed projects entails significant risk. Venture portfolios are illiquid, concentrated, and exposed to macro cycles, regulatory shifts, and technology obsolescence. In crypto specifically, a16z’s investments are subject to market volatility, changing regulatory classifications of tokens, security risks, and evolving infrastructure standards.
Given its scale and visibility, a16z’s decisions can shape narratives and valuations across entire sectors, which has prompted both praise for its support of ambitious founders and criticism over concentration of influence. For observers of the crypto and Web3 ecosystem, a16z remains a key bellwether of institutional venture appetite, helping define which themes and technologies receive sustained capital and operational backing.
