Andreessen Horowitz to Create $4.5 Billion Cryptocurrency Fund

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Venture capital firm Andreessen Horowitz (a16z) raised $4.5 billion for its new cryptocurrency fund. This will be the company's fourth and largest crypto fund.

Andreessen Horowitz announced the launch of CryptoFund 4, which is twice the size of the previous fund a16z, launched in June last year. In this way, the company is trying to demonstrate that, despite all the turmoil in the cryptocurrency market, investors are still interested in investing in promising Web3 startups.

"We think this is the golden era ofWeb3. Programmable blockchains are quite advanced, and tens of millions of people around the world use cryptocurrency applications. More importantly, Web3 has seen a huge wave of world-class talent come to Web3 over the past year. They are brilliant, they have enthusiasm and passion, and they want to make the Internet better,” said a16z partner Chris Dixon.

The company plans to send $1.5 billion for investing in startups, and the remaining funds for venture investments. According to Dixon, a16z is particularly highlighting the latest advancements in sectors such as Web3 gaming, decentralized social networks, DeFi, DAO, layer 1 and layer 2 infrastructure, NFTs and many other fast-growing areas of the industry.

Another partner of the company, Ariana SimpsonSimpson said that despite the high pace of investment, Andreessen Horowitz selects only the most promising projects that have stood the test of time and proven themselves through innovative products. The company's investment portfolio includes projects such as OpenSea, Avalanche, Alchemy, Solana, Phantom Wallet, Celo and Dapper Labs.

Previously, Andreessen Horowitz launched the a16z Crypto Research laboratory, which will conduct research in the field of digital currencies and Web3.