Andreessen Horowitz is planning to raise $4.5 billion for crypto investments as the digital asset frenzy continues, report says
Andreessen Horowitzis planning to raise $4.5 billion for cryptoinvestments, the Financial Times reported.
- The target is more than double the $2.2 billion raised for a similar fund in June last year.
- If successful, the amount would surpass any other funds raised by any crypto venture investor.
Venture capital firm Andreessen Horowitz is planning to raise $4.5 billion for cryptocurrency investments as the digital asset frenzy continues, the Financial Times reported Thursday.
Of that sum, $3.5 billion will be allocated to its crypto venture fund, while $1 billion will be placed for a separate fund focused on seed investments, the FT reported. The plans will be finalized in March.
The target is more than double the $2.2 billion that Andreessen Horowitz raised in June last year for blockchain companies and digital assets, which at that point, was the largest fund of its kind.
If Andreeseen, also known as
In 2021, investors plowed $31.6 billion into crypto start-up deals last year, almost seven times more compared to 2020, according to FT, citing PitchBook data.
Andreessen, one of the leading venture capital firms, has been an early investor in Facebook, Twitter, Airbnb, Stripe, and Coinbase.
Outside of crypto, Andreessen unveiled three new funds earlier this month totaling $9 billion, its first major funding announcement of the new year. The eye-popping sum is earmarked for biotech, consumer, enterprise, and fintech funds.
The firm has been growing its coffers — and investment team — nonstop over the course of the pandemic. In 2020, it closed on $5.8 billion in funds, a record sum at the time, Crunchbase data indicated.
- Realme 10 Pro+ 5G Review: An all-round value smartphone
- Sensex snaps 4-session losing run led by PSU banks
- The future is connected: 80% of traditional TV viewers want to switch in a year says Finecast Kantar
- Electric-vehicle financing startup Vidyut raises $4 million in first round of funding
- RIL, Adani Enterprises are the biggest and most consistent wealth creators: Motilal Oswal