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Andreessen Horowitz Looks to Raise $4.5B for New Crypto Funds: Report
The $3.5 billion targeted for a crypto venture fund would be the industry's largest.
Andreessen Horowitz (a16z), a venture capital firm that has invested extensively in the crypto industry, is looking to raise $4.5 billion for new funds, the Financial Times reported.
- The firm told investors it is looking for $3.5 billion for a crypto venture fund, the FT said, citing people briefed on the discussions. That will surpass the $2.2 billion it raised in June for its Crypto Fund III, at the time the industry's largest.
- It has targeted another $1 billion for a fund that will invest in seed funding for digital asset startups, according to the FT. The discussions took place last week, the U.K. newspaper said.
- The new crypto fund would be the industry's largest, overtaking the $2.5 billion raised by Paradigm in November. It comes just weeks after Katie Haun, an a16z partner, said she was leaving the company to start her own venture capital firm.
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Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
