A $1 billion crypto fund could be on its way from Andreessen Horowitz
April 30, 2021. Summarized by summa-bot.
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Andreessen Horowitz is reportedly gearing up for its third crypto industry fund.
Building on its previous crypto involvement, VC firm Andreessen Horowitz is now reportedly gathering thunder for another fund, according to an article from the Financial Times, or FT.
“The new fund, Andreessen’s third that is focused on cryptocurrency investments, is aiming to raise between $800m and $1bn from investors, according to four people with knowledge of the process,” FT wrote on Friday.
It plans to aim the new fund’s capital toward crypto industry projects and digital assets, FT reported.
Andreessen Horowitz has offloaded about $120 million of its Coinbase stock, although it held roughly $11 billion in the asset at the time of its listing, according to regulatory filings cited by FT.