A16z to Launch $1B Crypto Venture Fund

The Silicon Valley VC giant is going big for its third crypto venture fund, the Financial Times reported Friday.

AccessTimeIconApr 30, 2021 at 6:15 p.m. UTC
Updated May 9, 2023 at 3:18 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Andreessen Horowitz (a16z) is assembling a third crypto venture fund, according to a report Friday in the Financial Times.

Four people with knowledge of the process told the FT that a16z is looking to pull in between $800 million and $1 billion for the new fund.

It could ultimately double the $515 million fund a16z last raised for crypto investments.

The news comes in the wake of the Coinbase public listing, in which a16z was rewarded handsomely for its early support of the crypto exchange. A16z cashed out $449.2 million in COIN stock on behalf of its investors on April 14, the day the stock made its debut on Nasdaq.

With crypto prices trading at near all-time highs, a16z is looking to corral investors interested in finding the next Coinbase.

A request for comment sent to a16z wasn't returned by press time. The FT said the venture-capital firm declined to comment.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.