According to a report by the Financial Times, VC company A16z intends to raise a total of $4.5 billion for crypto-focused investments. A16z has investments in popular platforms you may be familiar with, including OpenSea, Protocol Labs, Polychain Capital, and others.
A week ago, the venture capital firm of Andreessen Horowitz announced that it’s in the middle of raising $3.5 billion for its VC fund. Not only that, but it intends on raising another $1 billion for Web3 seed investments. They’ll discuss more regarding the latter sometime in March. For now, the firm is willing to surpass the $2.2 billion it raised back in June 2021. At the time, that figure was the largest in the crypto industry.
The first fund they’re raising is for investing in crypto projects and startups. On the other hand, the second fund will focus on digital tokens and the like. Andreessen Horowitz is one of the biggest, highest-ranking venture capital companies in Silicon Valley, especially with its nearly $30 billion assets.
It’s one of the pioneering investors in renowned companies such as Coinbase, Skype, Facebook, and Twitter. If A16z can successfully draw in enough investors to reach its goal of $4.5 billion, it would undoubtedly become the industry’s largest, outshining the $2.5 billion Paradigm raised in November of last year.
As you may have inferred earlier, A16z is a massive supporter and backer of various platforms, including crypto-friendly gaming platforms. The latest platform they’ve backed is Carry1st, marking its first foray into African-based startups.