One of Silicon Valley’s most prominent venture firms is looking to raise a new crypto fund.
The Financial Times reports that Andreessen Horowitz – also known as a16z – is raising another cryptocurrency fund. The firm is reportedly targeting $450 million, though the size of the fund isn’t capped.
Andreessen Horowitz has yet to close the fund and may release further details about it over the next few weeks.
This would be the second cryptocurrency fund for the firm, having raised a $300 million crypto fund back in 2018.
The Menlo Park-based company has been quite active in the crypto space. Aside from being among the founding partners of the Facebook-led Libra Association, a16z has invested in several digital asset companies, including Coinbase, Dapper Labs, and Filecoin.
The firm also launched a free, seven-week-long crypto startup school late last year. It features several top industry executives as instructors, including Coinbase founder Brian Armstrong.
Photo: Kiefer Hickman/GSB Stanford