Sunday, December 4, 2022

Andreessen Horowitz Launches New $4.5B Crypto Fund

Must Read

[ad_1]

Andreessen Horowitz launches new $4.5 billion crypto fund which is the fourth in a row for the company, bringing the total raised for crypto and blockchain investmetns to over $7.6 billion so let’s read more today in our latest cryptocurrency news.

Andreessen Horowitz is the Silicon Valley-based venture capital company whcih announced that it raised $4.5 billion for a new crypto fund as the company’s fourth and the biggest so far. Crypto fund 4 doubles the size of a16z of the previous crypto funds raised in June 2021, which shows that despite the turmoil on the market, the company’s partners are looking to get more exposure to promising crypto startups. Chris Dixon added:

“We think we are now entering the golden era of web3. Programmable blockchains are sufficiently advanced, and a diverse range of apps have reached tens of millions of users. More importantly, a massive wave of world-class talent has entered web3 over the last year. They are brilliant and passionate and want to build a better internet.”

Crypto Transactional Volume, report, chainalysis

Of the $4.5 billion raised, $1.5 billion will go towards seed investment with the rest set aside from other venture investments. Andreessen Horowitz launches a new fund and according to Dixon, the company is excited about the latest advancement in sectors including Web3 games, DEFI and decentralized social media, layer-1 and layer-2 infrastrcuture, NFT communities, DAOS, governance, creator monetization, and more. The news of the latest crypto fund came at a time when the crypto marekt entered a major downturn after the collapse of the TerraUSD stablecoin with its sister coin LUNA. Despite the slump, partner Ariana Simpson assured investors that the company is confident about the bets. Simpson added:

“Bear markets are often when the best opportunities come about when people are actually able to focus on building technology rather than getting distracted by short-term price activity.”

She added that the technical diligence and other kinds of diligence that they do are key parts of making sure that the projects meet the bar:

“While our pace of investment has been high, we continue to invest really in only the top echelon of founders.”

The company’s crypto portfolio now includes the likes of Avalanche, Celo, Dapper Labs, Alchemy, OpenSea, Solana, Yuga Labs, and Phantom Wallet. The company invested in Flowcarbon as a blockchain-based carbon-credit trading platform backed by WeWork founder Adam Neumann. A16Z announced the launch of GAMES Fund ONE which invested $600 million in the gaming industry.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

[ad_2]

Source link

Cryptoultimatum Crypto Trading Signal Service

LEAVE A REPLY

Please enter your comment!
Please enter your name here

I show You how To Make Huge Profits In A Short Time With Cryptos!
Trending
- Advertisement -

More Articles Like This