Silicon Valley investment powerhouse Andreessen Horowitz has launched a new $300 M fund focused on cryptocurrencies. The firm has already invested millions in projects and protocols built around a range of use cases and also in a number of notable start-ups, including crypto exchange Coinbase.
Chris Dixon, General Partner, said in a blog post the fund will be named “a16z” and explained it “is designed to include the best features of traditional venture capital, updated to the modern crypto world”.
a16z would be a long-term patient investor able to hold investments for 10+ years. The fund plans to invest consistently over time, regardless of market conditions. a16z would provide operational support to entrepreneurs with its 80+ employees that have deep expertise in executive and technical recruiting, regulatory affairs, communications and marketing, and general start-up management. a16z would be flexible with respect to stage, asset type, and geography. It would invest at all stages, from seed type pre-launch projects to fully developed later-stage networks like Bitcoin and Ethereum. The fund will invest both in traditional financial instruments like equity or convertible notes and in new instruments including the direct purchase of coins/tokens. The fund would be focused on crypto tokens with underlying, practical and non-speculative use cases.
