Prime enterprise capital agency Andreessen Horowitz is increasing its presence within the crypto sector. America-based firm has raised $515 million
Prime enterprise capital agency Andreessen Horowitz is increasing its presence within the crypto sector. America-based firm has raised $515 million for its second crypto-focused fund, in keeping with an April 14 article on Fortune.
Earlier reviews instructed that Andreessen Horowitz, additionally known as a16z, hoped to build up $450 million in capital for the brand new car, which means that the agency has surpassed the preliminary purpose by $65 million.
The brand new fund will concentrate on blockchain startups
Equally to Andreessen Horowitz’s first crypto-oriented fund, which raised $300 million in 2018, the brand new endeavor will reportedly concentrate on blockchain tasks, though the Fortune report doesn’t point out startups working with digital belongings.
Chris Dixon, common companion on the enterprise capital juggernaut, stated of blockchain:
“It is very uncommon that main, new computing paradigms come alongside, and we predict that is on the dimensions of cloud and cell for the Web.”
Dixon added that he expects to see many new blockchains being launched in 2020. That features Dfinity, a blockchain-based cloud computing venture {that a}16z has already backed by way of its first crypto fund.
Andreessen Horowitz’s earlier crypto investments and tasks
Being one of many first enterprise capital corporations to enter the area, Andreessen Horowitz has invested in a wide range of crypto tasks to this point, together with Libra, Maker DAO (MKR), and Coinbase, amongst others.
The corporate’s involvement with the crypto business isn’t restricted to investments. In December 2019, a16z introduced a free, seven-week crypto startup faculty, scheduled to launch in February 2020, though there was no replace on that since.
Cointelegraph has reached out to Andreessen Horowitz for extra particulars, however has but to listen to again from the agency. This story might be up to date ought to we obtain a response.