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Stalwart Crypto Investor Andreessen Horowitz Raises $2.75 billion for Two New Funds

Stalwart Crypto Investor Andreessen Horowitz Raises $2.75 billion for Two New Funds

Silicon Valley-based venture capital firm and high-profile crypto investor Andreessen Horowitzhas raised $2.75 billion for two new funds, according to a company announcement published on May 1.

The lion’s share of the new capital will go toward a specialized $2 billion late-stage venture fund (LSV Fund I), headed by Andreessen Horowitz general partner David George.

The $750 million has meanwhile been raised for a sixth general fund — focused on early-stage enterprise, consumer and fintech offerings — which will sit alongside the company’s existing specialized cryptocurrency and bio funds.

As managing partner Scott Kupor notes in yesterday’s announcement, cryptocurrency was still in its nascency when the venture capital firm launched in 2013. The creation of its crypto-dedicated $350 million crypto fund, a16z —  which backs a range of ventures from blockchain projects to initial coin offerings (ICOs) — prompted the firm to hire its first female general investing partner in 2018, as Cointelegraph reported at the time.

Since then, Andreessen’s Horowitz’s $350 million crypto fund, a16z, has invested in blockchainstartup MakerDAO (MKR) — which stands behind ether-based stablecoin Dai (DAI) — stablecoin project Basis and institutional crypto custodian Anchorageas well as blockchain cloud computing startups DFINITY and Oasis Labs.

This February, the University of Michigan’s $12 billion endowment revealed plans to bolster its investment in Andreessen Horowitz’s “cryptonetwork technology fund” (CNK Fund I).

Andreessen’s Horowitz’s website also lists bitcoin (BTC), ether(ETH), decentralized DNS startup Handshake, dYdX exchange and stablecoin trueusd operator Trusttoken among its crypto-related investments.

Last month, Andreessen’s Horowitz announced it was restructuring by registering all of its employees as qualified financial advisors and renouncing its former status as a venture capital firm. The restructuring will ostensibly enable the company to take riskier bets on certain business areas, including cryptocurrencies.

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About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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