Silicon Valley, California-based venture capital firm Andreessen Horowitz (a16z) is looking to raise $4.5 billion for new funds, reports Yahoo Finance!.
Silicon Valley, California-based venture capital firm Andreessen Horowitz 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.
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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.