Sources told the Financial Times that Andreessen Horowitz (a16z) is raising another crypto fund, reportedly targeted at $450 million. 

Citing two sources with knowledge, FT says a16z has yet to close the fund but may do so soon. The size of the fund is not capped.

A spokesperson for a16z declined to comment to CoinDesk. 

One of the most well-known venture firms in Silicon Valley, a16z launched a crypto fund of over $300 million in 2018. The venture firm has been extremely active in investing across the crypto space, with investments in companies including Celo, TrustToken and Arweave.

Notably, it backed Coinbase as early as 2013. More recently, a16z was a founding member of Facebook’s Libra Association.

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