RESEARCH TRIANGLE PARK – Silicon Valley-based venture capital firm Andreessen Horowitz – one of the most powerful forces in the industry – is diving deeper into cryptocurrency with a new $2.2 billion fund. Here’s why:
“We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed. That’s why today we’re pleased to announce a new $2.2 billion fund to continue investing in crypto networks and the founders and teams building in this space. This represents the beginning of an exciting new chapter for the a16z crypto team,” the firm said in a blog post.
“This fund allows us to find the next generation of visionary crypto founders, and invest in the most exciting areas of crypto. We invest in all stages, from early seed-stage projects to fully developed later-stage networks.”
