A16z, a venture capital firm with investments in Protocol Labs, Polychain Capital, Opensea and others, plans to raise $ 4.5 billion for its latest crypto-only fund, according to a report in the British Financial Times.

Last week, venture capital firm Andreessen Horowitz said it would raise $ 3.5 billion for its venture fund, as well as an additional $ 1 billion for an initial investment in Web3, announced plans in March. The company is ready to exceed the $ 2.2 billion it raised in June 2021, the largest crypto industry at the time.

The first fund will be used to invest in the start-up of cryptocurrencies and projects that want to invest in initiatives, while the second fund will focus on investing in tokens and cryptocurrencies.

Andreessen Horowitz, with nearly $ 30 billion in assets, is one of Silicon Valley’s largest venture capital firms. Venture capital was one of the first major investors in companies such as Skype, Facebook, Twitter and Coinbase. If a16z manages to attract investors and raise $ 4.5 billion, it will become the largest company in the industry, surpassing $ 2.5 billion in November 2021.

Related: OpenSea raises $ 300 million for crypto-digital market

A16z has supported a number of crypto-friendly gaming platforms, most recently Carry1st, the company’s first investment in a start-up on the African continent. In October 2021, a delegation from a high-profile venture capital firm joined members of Congress and officials in US administrations to discuss cryptocurrency regulations.

Source: CoinTelegraph