$ 1 Billion Crypto Fund From Andreessen Horowitz

Venture capital firm Anressen Horowitz (a16z) announced that it has created a new cryptocurrency fund.

News of a $ 1 billion crypto fund came from Andreessen Horowitz. According to the Financial Times report, venture capital firm a16z is creating a third crypto venture fund. Sources made statements to FT reported that a16z wanted to raise between $ 800 million and $ 1 billion for the new fund. If the company reaches this amount, it will double the $ 515 million fund in 2020. A16z has so far invested in Anchorage, Ava Labs, Celo, Coinbase, Compound, Chia, Dfinity, Dydx, Filecoin, Foundation, Libra, Handshake, Maker, Near, Oasis Labs, Ripple, Uniswap and many more from the cryptocurrency industry. Previously, it had also invested in technology companies such as Facebook, Twitter, Skype and Airbnb. With an early investment in Coinbase, the company generated a huge income by selling $ 449 million worth of shares after the exchange went public on Nasdaq.