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Andreessen Horowitz raises $4.5 billion crypto fund

 


While the crypto market may have a long, arduous road to recovery after the turmoil of the past few weeks, venture capitalists are not deterred. They continue to show interest in a Web3 future.


On Wednesday, venture capital giant A16Z announced it had launched a fourth $4.5 billion cryptocurrency fund. In total, Andreessen Horowitz has invested more than $7.6 billion in digital currencies and blockchain companies.


The new fund is aimed at projects in the early stages but also at those that are already mature and are showing a certain traction. According to the company, $1.5 billion will be used for seed injections. 3 billion US dollars are earmarked for risk investments.

Despite the current market situation, the company is optimistic and looks forward to new, promising projects. Marc Andreessen, the co-founder of A16Z, said that cryptocurrencies are still in their infancy and the market has great potential for growth.


The fourth crypto fund has been in the works for some time. Cointelegraph first reported on it in January. This one is twice the size of the previous crypto fund and shows the growing interest in crypto companies.


Less than a year ago, Andreessen Horowitz launched his $2.2 billion Crypto Fund III . A16z has caused quite a stir in the crypto industry with its dominance over the past few months. Several crypto companies like Paradigm and Electric Capital are raising huge sums of money to compete with A16z.

The company, which became known for its investments in Instagram and Slack, first entered the crypto space in 2013 with an investment in Coinbase. Since then, the company has funded several crypto ventures, including Polychain Capital, OpenSea, Solana ( SOL ), Avalanche (AVAX), and Yuga Labs.

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