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a16z aims to raise $4.5 billion in investment capital for crypto industry

 


Investment firm a16z, which has invested in successful blockchain projects Protocol Labs, Polychain Capital and Opensea, among others, is looking to raise $4.5 billion for two new crypto mutual funds, Britain's Financial Times reports .


The venture capitalist, which belongs to Andreessen Horowitz, is said to be planning to raise $3.5 billion for a first crypto venture capital fund and another $1 billion for a second mutual fund that invests specifically in early crypto companies. The exact details are to be disclosed in March. If the targeted funds can be raised, the investment firm would double the $2.2 billion in investment capital raised in June 2021. At the time, a16z was the largest investment fund in the crypto industry to date.


The division of the two new funds provides that the larger investment fund invests in cryptocurrencies and established crypto projects, while the smaller wants to help crypto startups in particular.


Andreessen Horowitz is one of the largest venture capitalists in Silicon Valley with approximately $30 billion in assets under management. The investment firm has a history of showing its business acumen with successful early investments in companies like Skype, Facebook, Twitter, and Coinbase. If a16z can now rake in $4.5 billion for the two target crypto mutual funds, the firm would also pretty clearly outperform the $ 2.5 billion crypto mutual fund Paradigm currently has is a leader in the industry.


Last but not least, a16z's willingness to take risks is reflected in a current investment in the crypto company Carry1st, because this is the first time the company is investing in a startup in Africa . In addition , the venture capitalist is increasingly trying to regulate cryptocurrencies in American politics.

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