US-based venture capital powerhouse Andreessen Horowitz (a16z) announced a new USD 2.2bn fund to continue investing in crypto networks.
“This fund allows us to find the next generation of visionary crypto founders, and invest in the most exciting areas of crypto. We invest in all stages, from early seed-stage projects to fully developed later-stage networks,” Chris Dixon and Katie Haun, general partners at the firm, said in a blog post today.
According to them, these “exciting areas” include:
- Next-generation payments
- Modern store of value
- Decentralized finance
- New ways for creators to monetize
- Web 3
Or the same areas they prioritized for their Crypto Fund II a year ago.
“We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed,” the general partners added.
According to them, the size of this fund, which is about four times bigger than the firms second crypto fund a year ago, “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.”
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