Andreessen Horowitz’s crypto, Web 3.0 warchest swells to US$7.6B
a16z crypto said its fourth fund raised US$4.5 billion, bringing the total amount of funds raised for investment in crypto and Web 3.0 startups by the famed Silicon Valley venture capital firm to more than US$7.6 billion.
See related article: Binance, a16z among investors backing Musk’s Twitter bid with US$7B
Fast facts
Around US$1.5 billion of the new fund will be allocated to seed investments, while the remaining US$3 billion will be used for venture investments in the sector, Andreessen Horowitz, now known as a16z, said.
The firm has invested in some of the biggest Web 3.0 companies, including Coinbase, non-fungible token (NFT) marketplace OpenSea, Dapper Labs and Sky Mavis, the developer of the NFT game Axie Infinity.
Despite the recent crypto market crash, a16z Crypto believes “we are now entering the golden era of Web3,” according to its announcement.
The firm that it will also continue to grow its research, engineering, security, talent, legal, and marketing team to help Web 3.0 founders.
See related article: New US$1B crypto fund lands backing from a16z, Solana founders