Silicon Valley’s leading venture capital firm Andreessen Horowitz (a16z) is planning to launch its third cryptocurrency fund with capital ranging from $ 800 million to $ 1 billion, according to the Financial Times.
In 2020, a16z raised $ 515 million for its second fund. In 2018, a venture capital firm launched the first crypto fund with a capital of $ 300 million.
Andreessen Horowitz is an early investor in Coinbase. On April 14, the day of the direct listing of shares of the bitcoin exchange, the venture capital company sold securities for $ 449.2 million.The total volume of a16z’s stake in Coinbase is estimated at $ 11 billion.
On April 20, Andreessen Horowitz led a $ 28 million round of funding for Aleo, a platform for creating decentralized privacy-enhanced applications.
On March 18, a16z supported the OpenSea NFT marketplace in the $ 23 million Series A investment round.
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