Andreessen Horowitz Launches $ 300 Million Cryptocurrency Fund
Well-known Silicon Valley venture capital firm Andreessen Horowitz (a16z) has launched a new $ 300 million investment fund focused on the cryptocurrency industry.
As stated in the company’s blog, the fund was named “a16z crypto” and will, among others, be led by former federal prosecutor Katherine Hone..
The fact that a16z intends to increase its presence in the cryptocurrency sector is not surprising when you consider the number of projects and protocols the firm has supported in the past, CoinDesk notes..
General partner Chris Dixon announced that the new fund will be engaged in long-term investments in cryptocurrencies. “We have been investing in crypto assets for over five years now,” he wrote. “We have never sold this investment and do not plan to sell it in the near future. We have structured the a16z crypto fund in such a way as to be able to hold our investments for more than 10 years “.
“We plan to make systematic investments over time, regardless of market conditions. If the next “crypto winter” comes, we will adhere to aggressive tactics, “he stressed, adding that the fund will be interested in projects that have” non-speculative areas of application. “.
“We want hundreds of millions, and in the long term, billions of people, to use services based on cryptocurrency protocols,” wrote Dixon. “Cryptocurrency tokens are their own asset class for digital networks, but their value increases due to basic and practical use cases.”.
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