Quick take:
- A16z has announced a $4.5 billion crypto fund 4.
- The leading venture capital firm said it will invest in Web3 startups at every stage.
- The fund will specifically target Web3 games, NFT communities and DeFi, among other segments.
Andreessen Horowitz “a16z” has launched a $4.5 billion crypto fund. The leading crypto investment firm said it will target Web3 startups at every stage. Writing in a blog post published on Wednesday, the Silicon Valley-based venture capital company said:
“We are excited about developments in web3 games, DeFi, decentralized social media, self-sovereign identity, layer 1 and layer 2 infrastructure, bridges, DAOs & governance, NFT communities, privacy, creator monetization, regenerative finance, new applications of ZK proofs, decentralized content & story creation, and many other areas.”
The firm’s crypto fund portfolio has now grown to $7.6 billion making it one of the biggest blockchain-focused funds in the industry.
A16z said the decision to go all-in on Web3 is based on the belief that we are entering the golden age of the next iteration of the internet. The firm points to the advances in programmable blockchains with a diverse range of apps already having tens of millions of users.
In addition, the industry also seems to be attracting top talent, with leading developers joining over the last year. Some of the leading fintech talents have left their mainstream financial sector positions to join startups focusing on Web3 projects.
The company believes blockchains will power the next computing era, the age of crypto and Web3. A16z sees an exciting opportunity built on a well-blended mix of talent, viable infrastructure, and community knowledge.
“That’s why we decided to go big. We’ve been investing in crypto since 2013, and today we’re announcing our fourth crypto fund, totalling $4.5B.” The company said it will dedicate $1.5 billion to seed investments, while $3 billion will go to venture capital investments.
A16z said it also plans to grow its talent pools in research and engineering, security, talent and people, as well as, legal and regulatory.
The latest crypto fund launch comes shortly after Andreessen Horowitz’s announcement of a $600 million gaming fund, which also plans to invest in blockchain games.
A16z’s crypto/Web3 portfolio investments include projects like Yuga Labs’ Otherside metaverse, and StepN’s move-to-earn game, among others.
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