Andreessen Horowitz raised $ 515 million for its crypto fund.
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Andreessen Horowitz raised $ 515 million for its crypto fund
Top venture capital firm Andreessen Horowitz is expanding its presence in the crypto sector. The United States-based company has raised $515 million for its second crypto-focused fund, according to an April article on Fortune.
It was previously assumed that the company would focus on a value of $ 450 million.
Like the first crypto fund, for which Andreessen Horowitz raised $ 300 million in 2018, the new fund will invest in blockchain projects. Whether the company has already selected the first candidates to receive its financing is not specified in the publication.
“Very rarely do new large computer paradigms appear. We believe that this space is on a par with cloud and mobile technologies in the context of the Internet, ”said Chris Dixon, the fund’s general partner.
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He also noted that he expects to launch many new blockchains in the coming years. In particular, Dixon singled out a cloud computing platform on the Dfinity blockchain, which the company funded from its first fund.
Andreessen Horowitz was one of the first among large companies to support bitcoin and blockchain. In January 2014, its co-founder Mark Andreessen wrote a column for the New York Times, in which he spoke about the prospects for cryptocurrency.
Since then, Andreessen Horowitz has invested in Bitcoin, Ethereum, and other cryptocurrencies and projects, including Maker DAO, Compound, Celo, Coinbase, Filecoin, and Anchorage.
Last year, Andreessen Horowitz confirmed the seriousness of her intentions by registering as a financial advisor with the US Securities and Exchange Commission (SEC). This move opened up an opportunity for the company to invest up to $ 1 billion in high-risk assets, including cryptocurrencies.
Ex-prosecutor and board member of the Libra Association, Katie Hown, is also among the leaders of the new fund. She refused to talk about the successes of the first fund, but noted that the company intends to adhere to a long-term investment strategy covering a period of up to 10 years.
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