Andreessen Horowitz, the Silicon Valley financial backing company started by Marc Andreessen as well as Ben Horowitz, has actually introduced the launch of a $2.2 billion crypto fund. The company is “substantially confident concerning crypto’s possibility to recover trust fund as well as make it possible for brand-new sort of administration.”
Andreessen Horowitz Introduces $2.2 Billion Crypto Fund
Andreessen Horowitz introduced the launch of a brand-new $2.2 billion crypto endeavor fund Thursday. The Silicon Valley financial backing company, likewise called “a16z,” was started by Marc Andreessen as well as Ben Horowitz in 2009.
Chris Dixon, Katie Haun, as well as Ali Yahya, companions on the crypto group at Andreessen Horowitz, clarified the brand-new fund in a post entitled “Crypto Fund III.” They created:
The dimension of this fund talks with the dimension of the possibility prior to us: crypto is not just the future of financing yet, just like the net in the very early days, is positioned to change all elements of our lives.
” This fund permits us to discover the future generation of visionary crypto creators, as well as invest in one of the most amazing locations of crypto,” the a16z companions clarified. “We invest in all phases, from very early seed-stage tasks to totally established later-stage networks.”
Haun informed CNBC Thursday that the fund is not a hedge fund yet an endeavor fund. She made clear that the fund purchases symbols as well as methods in addition to companies.
The firm’s initial crypto-focused fund was released 3 years earlier throughout a crypto winter season when the worth of bitcoin dove about 80% from its 2017 highs.
The companions additionally outlined:
Our team believe that the following wave of calculating technology will certainly be driven by crypto. We are substantially confident concerning crypto’s possibility to recover trust fund as well as make it possible for brand-new sort of administration where neighborhoods jointly make essential choices concerning exactly how networks progress, what habits are allowed, as well as exactly how financial advantages are dispersed.
” That’s why today we delight in to introduce a brand-new $2.2 billion fund to proceed investing in crypto networks as well as the creators as well as groups integrating in this room,” the companions stressed.
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