Building on its previous involvement in cryptocurrency, venture capital Andreessen Horowitz is now taking action in favor of another fund, according to an article in the Financial Times or FT, and is based on its previous involvement in cryptocurrency.
“The new fund, Andresen’s third fund, which focuses on investing in cryptocurrencies, aims to attract between $ 800 and $ 1 billion from investors, according to four people familiar with the process,” the Financial Times wrote on Friday.
Venture capital company Andreessen Horowitz also operates under the a16z name. The company is active in the cryptocurrency and blockchain sector and has invested in a number of projects. According to FT, he plans to direct the new fund’s capital toward projects in the crypto and digital asset industry.
Venture capital was also a major investor in Coinbase, which was recently listed on April 14th. Andreasen Horowitz disposed of about $ 120 million of his Coinbase stock, even though he had about $ 11 billion in assets at the time of listing, according to regulators. Documents cited by FT.
In April 2020, there were headlines stating that the company wanted to raise $ 450 million for a second crypto fund. As a result, the company received $ 515 million.
Overall, the cryptocurrency space has seen a significant influx of capital over the past year, as evidenced by the $ 2 trillion asset estimate reached in April 2021.