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.