Venture capital giant Andreessen Horowitz is planning to launch a crypto fund worth $2.2 billion. According to the company, the fund will be distributed across blockchain and crypto start-ups. Andreessen Horowitz executives in charge of digital assets, Katie Haun and Chris Dixon, said that the fund would support investment “in the most exciting areas of crypto.” The executives stated that the venture capital firm explores projects in all stages, from the early seed stage to a fully developed stage.
Speaking further while being optimistic about the future of crypto, Huan and Dixon said:
“The size of this fund speaks to the size of the opportunity before us: crypto is not only the future of finance but, as with the internet in the early days, is poised to transform all aspects of our lives.”
Popularly known as a16z in the tech space, Andreessen Horowitz is launching its crypto fund in the middle of a market decline.
Bitcoin has traded as low as $29,200 in the last 7 days, losing more than 15% over the same period. The current BTC trading price of $34,364 is nearly half its all-time-high of $64,000 recorded in April.
a16z is remaining bullish on Bitcoin, adding that the next wave of computing innovation will be fueled by crypto.
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