Andreessen Horowitz (a16z), one of the dominant forces in the venture capital industry, is planning to invest $500 million in India's growing startup ecosystem, according to a report from TechCrunch citing people familiar with the matter.

  • India, with its large, web-savvy population, has seen a surge in interest from investors in its startups.
  • VCs invested $23.5 billion in Indian startups in 2021, according to PitchBook data, creating 17 unicorns (companies valued at $1 billion or more) in the process.
  • Of this $23.5 billion, $587.16 million was allocated to crypto and Web 3 companies according to reports.
  • Andreessen Horowitz's first investment in India was in local crypto exchange CoinSwitch Kuber, where it led a round that closed in October 2021 in which the exchange raise $260 million at a $1.9 billion valuation.
  • A16z isn’t commenting on the report, but co-founder and general partner Marc Andreessen has in the past talked about how “tempting” India and other emerging markets are for investment opportunities.
  • Chinese crypto venture capital firm Sino Global Capital, led by Matthew Graham, has also made a big push into India as part of its new $200 million fund, which it announced last October.

CORRECTION (May 3, 10:25 UTC): Corrects typo in the headline.

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 a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC