Despite the recent negative sentiments in the crypto market following the latest scandal with Terra Luna & its UST counterpart, top VC firm Andreessen Horowitz is not shying away from the Crypto Market.
The firm has announced a fourth crypto fund amounting to a whopping new $4.5 Billion. The new Crypto fund by A16Z is double the size of the last $2.2 Billion Crypto fund.
This shows that institutional investors still believe that crypto is the future of finance and gives hope to Web 3 startups despite the current bear market.
According to Tech Crunch, Andreessen Horowitz intends to invest one-third of its mega-sized fund into early seed-stage deals with hopes to catch Binance or Coinbase with the potential for an x1000 return in the future.
Andreessen Horowitz is not the only VC firm investing heavily in crypto at the moment. Other companies such as Electric Capital and Paradigm are also raising mega-funds to challenge A16z’s dominance in the blockchain space.
In March 2022, A16Z lost its own head of the Crypto division Katie Haun, who announced her own $1.5 Billion fund through Haun Ventures. The move was the largest ever debut fund by a female VC.
Anyway, if you are a Web 3 startup, looking to take part in a funding round by Andreessen Horowitz, then you need to familiarize yourself with Chris Dixon who is one of their General Partners. Chris has been leading the Crypto arm of the VC firm with a focus on web 3.
By the way, we would like to hear your thoughts on the new $4.5 billion crypto fund announced by A16Z.
What effect do you think this will have on the wider crypto market? Please share your thoughts in the comments area.
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