Andreessen Horowitz Investors are Backing a $30M Upstart Fund That Exclusively Invests in NFT Art

Several Andreessen Horowitz investors are backing a $30M upstart fund that is devoted to exclusively investing in NFT art.
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Quick take:

  • Several a16z investors are investing in an upstart fund that exclusively invests in NFT art.
  • Chris Dixon, Marc Andreessen, Andrew Chen, and Arianna Simpson are among the backers of the new fund.
  • The $30M fund called Curated is committed to buying and holding NFT artwork.

Andreessen Horowitz is one of the leading institutional venture capital firms investing in Web3 projects. Although the non-fungible tokens (NFTs) space has witnessed a slight slowdown in capital inflow from VCs in recent weeks, some of a16z’s top investors are not yet to apply brakes yet.

Marc Andreessen, Chris Dixon, Andrew Chen, Arianna Simpson and Jon Lai are among investors backing a new fund called Curated, which invests exclusively in NFT art. 

According to a report by Tech Crunch, the fund is devoted to buying and holding NFT artwork. Other renowned investors backing the fund include Alexis Ohanian, Justin Kan, Avichal Garg & Curtis Spencer from Electric Capital, and more.

The NFT fund is led by Andrew Jiang and Todd Goldberg, who said half of the fund focuses on investing in “Blue-Chip” NFTs like Bored Ape Yacht Club and Cryptopunks, as well as, works from top artists selling singular artworks as NFTs. 

Jiang and Goldberg also told TC that the remaining half of the fund will be invested in “high potential collections” from artists that are yet to amass a huge following.

“NFT assets are what we think are going to be a really big deal over the next decade, like orders of magnitude larger than they are today because NFTs give us a digitally native way to invest in [various cultures] at internet scale,” Goldberg said in an interview with TC.

The fund wants to build its brand as a premium collector that invests in high-value assets whilst also helping creators and developers. Curated is also exploring options for issuing its own NFT drops in collaboration with artists that it has partnered with.

Although activity is slowing in the NFT space Goldberg recognises that this could be a great opportunity for the fund as a capital investor.

Transaction volume at leading NFT marketplace OpenSea dropped by 40% in the last 30 days to about $2.3 billion according to analytics platform DappRadar. 

“We’ll wait for the best opportunities to enter these positions and then we’ll just hold these things long-term. Long-term, patient capital doesn’t sound like a big deal, but I think in this market where everyone is very short-term focused, it actually is a strategic advantage,” said Golberg.

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