VC Firm Andreessen Horowitz Targets $450M for Second Crypto Fund: Report
Sources told the Financial Times that Andreessen Horowitz (a16z) is raising another crypto fund, reportedly targeted at $450 million.
Andreessen Horowitz
It is unclear at press time whether the approval is for a16z’s previously disclosed purchase of shares in Coinbase or for a new purchase.
a16z says high quality projects in the past cycle (some being startups in its own portfolio) will drive growth in the next.
The Andreessen Horowitz-backed blockchain project successfully transitioned to Phase 2 of Mainnet after a suprise validator vote.
NEAR announced Monday the closing of a $21.6 million token sale involving a16z, Pantera and others. It also revealed the stealth-mode launch of the NEAR mainnet on April 22.
Andressen Horowitz pointed to next-generation payments, decentralized finance, new monetization models and Web3 as use cases it would look into for its new $515 million fund.
Andreessen Horowitz
