Silicon Valley, California-based venture capital firm Andreessen Horowitz (a16z) is looking to raise $4.5 billion for new funds, reports Yahoo Finance!. The company told its investors that it is looking for $3.5 billion for a crypto venture fund.
Andreessen intends to finalize the latest funds by March, the firm declined to comment. If things go according to plan, the company’s haul would efficiently overtake any other funds raised to make early bets on cryptocurrency start-ups.
Announcing American Dynamism at @a16z. We’re looking for serious founders who want to build for America. Learn more about our mission, what we stand for and why we’re investing in American Dynamism now. https://t.co/FPNH7wwDni
— Katherine Boyle (@KTmBoyle) January 14, 2022
The fund will surpass the $2.2 billion it raised in June last year for its Crypto Fund III. It was the largest in the industry at the time.
Andreessen Horowitz targets $1 billion fund
The Yahoo report adds that the company targets another $1 billion in funding to invest in seed funding for digital asset startups.
The report further added that the above discussions were held last week.
The new crypto budget would be the industry’s biggest, surpassing the $2.5 billion raised by Paradigm in November. It arrived weeks after Katie Haun, an a16z partner, said she was leaving the company to start her own venture capital corporation.
Andreessen Horowitz backs bold entrepreneurs building the future through technology. The company aims to connect entrepreneurs, investors, executives, engineers, academics, industry experts, and others in the technology ecosystem, according to its official website.
The company plans to invest in Topography Health
Earlier in the day, the company posted on its blog that it plans to invest in Topography health. The blog post read, “We’re excited to invest in Topography Health. CEO Alexander Saint-Amand and team are building a managed marketplace to improve the throughput and diversity of clinical trials. ” Read the complete blog post here.
Andreessen Horowitz funds in both early-stage startups and established growth businesses. Its assets span the mobile, cryptocurrency, gaming, social, e-commerce, education, and enterprise IT industries
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Source: https://coingape.com/breaking-andreessen-horowitz-seeks-4-5b-for-new-crypto-investments/