Andreessen Horowitz Commits $500M for Indian Startups: Report

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.

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