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Andreessen Horowitz’s Firm Unveils $4.5B Crypto Fund Despite Market Downturn

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Andreessen Horowitz has launched a new $4.5 billion fund that will invest in cryptos and Web 3 companies, according to a press release by a16z crypto on Wednesday.

The fund is the firm’s fourth to focus on digital assets, with more than $7.6 billion being raised in total.

Out of $4.5B, $1.5 billion will be targeted for seed investments, and the rest being set aside for venture investments.

Andreessen Horowitz’s company stated that the company was entering the golden era of web3, further noting that they were excited about developments in blockchain gaming, DeFi, decentralized social media, and NFTs.

Prior funds were launched in June of last year and in April of 2020, both of which emerged shortly after cryptocurrency market downturns. BTCUSD up +1.09, ETHUSD down -0.57%

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