VC giant Andreessen Horowitz has announced intentions to launch a new $2.2 billion fund focused on the cryptocurrency industry.
Roughly three years after releasing its first crypto-related product, the private US venture capital firm a16z has outlined plans to double down via a ‘radically optimistic’ digital asset fund. The company’s partners called the industry ‘the future of finance.”
- Founded in 2009, Andreessen Horowitz is a venture capital giant operating from California that has already launched several pro-cryptocurrency products. It has also previously participated in the funding rounds of numerous DeFi protocols, including Uniswap.
- According to a CNBC coverage from June 24th, a16z plans to release its largest fund focused on digital assets yet. Its initial capital will be $2.2 billion, which the company intends to distribute across blockchain and cryptocurrency start-ups.
