A16z to Back 30 Web3 Companies in New Expanded Crypto Startup School

A16z has launched a new web3 accelerator Crypto Startup School that will invest $500,000 in each participating project.
Image source: a16zcrypto.com

Quick take:

  • A16z Crypto has announced the launch of a new accelerator Crypto Startup School (CSS).
  • The CSS will invest $500,000 into every company that participates in the accelerator program.
  • The program runs for 12 weeks with the first wave (the spring 2023 cohort) scheduled for March 6 – May 26, 2023.

A16z Crypto, the crypto investment arm of leading venture capital firm Andreessen Horowitz, has relaunched its web3 accelerator program, Crypto Startup School (CSS). The now-expanded program first launched in 2020 as part of A16z’s plans to widen its support channels for web3 companies.

According to the announcement, the CSS will invest $500,000 in each participating project in exchange for a 7% equity, whilst also offering mentorship from industry founders and lectures from domain experts.

The program will also give participating projects an opportunity to build alongside a select group of fellow founders who are navigating the startup terrain together.

A16z Crypto has raised more than $7.6 billion to invest in web3 companies. It has since backed Yuga Labs’ Otherside metaverse and StepN’s move-to-earn game, among others.

The CSS program offers more than financial backing. Web3 builders that make the cut for the program will gain more from A16z’s network of potential customers, advisors, and investors, thus helping to scale their projects.

Announcing the CSS program via Twitter, A16z Crypto tweeted: 

Projects will be taken through mentorship, networking and advisory sessions over a 12-week period, with the first cohort scheduled for spring next year (March 6 – May 26, 2023). The program is open to those that are interested in or are currently building web3 projects. There is no requirement for prior crypto knowledge.

A16z plans to begin the spring 2023 cohort with 30 companies, but an unlimited number of interested web3 builders will also be able to access the lessons online after the program is concluded.

The program is also open to companies that have already raised funds for their projects. However, it s offered full-time and requires participants to be fully committed over the 12-week period.

Interesting projects can apply from October 18 through November 30, 2022, while a decision on qualifying applicants will be made by January 2023.

A16z’s February 2020 cohort included participants like Phantom, Goldfinch, National Finance, Use Teller, FanCraze and Flashbots. They have since gone on to raise over $300 million across multiple stages, the company wrote on Twitter.

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